SBS Bank and Staples Rodway have entered into a strategic alliance to work together in the wealth management sector.
Under the agreement, SBS Bank’s managed funds and investment advisory business, Funds Administration New Zealand (FANZ) will take a 50% stake in Staples Rodway Asset Management (SRAM) and will manage Staples Rodway’s KiwiSaver Scheme effective from 31 March 2015.
Go deeper with GlobalData
SRAM will run independently with its own board of executives while maintaining all the staffs.
The strategic alliance will leverage the core competencies of each business to position them in a market segment to enhance growth.
SBS group chief executive Wayne Evans said: "We believe FANZ can add value and lower costs for investors through our existing size capability and scale. The strong Staples Rodway proposition for investors with portfolios over $1m in assets, complements our existing capabilities and will be marketed to our New Zealand wide member base."
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
