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Trustees Executors Limited

Overview:

Trustees Executors is a professional New Zealand Trustee Company that provides a full range of financial and trust services to individuals, offshore clients and the corporate sector.

We offer a total wealth management service, including investment and asset protection solutions, for people who know the importance of planning ahead for a secure future. As a leading provider of corporate trustee and back office securities services in New Zealand, our professional team has a depth of knowledge and proven track record of delivery that has made us the provider of choice for many fund managers and financial institutions.

On behalf of our clients, we administer in excess of 350,000 individuals' accounts and have assets under supervision, administration or management of NZ$55 billion.

As the first trustee company to be established in New Zealand, our clients can take great confidence in the strength of our history and experience, that has seen generations of New Zealanders put their faith in us for their financial security.

History:

Before Trustees Executors was established in New Zealand in 1881, it was the practice for people to appoint a friend or acquaintance as their trustee when they drew up a will or trust deed. Naturally, the most able business people were called upon to be trustees.

Due to the rapid development of Otago during that time, these business people found that they had less and less time to attend to such affairs. At that time in Australia, the practice of appointing a specialist trustee instead of a friend was already successfully established.

In 1881, prominent Dunedin businessmen decided to adopt the same practice of appointing specialist trustees - and so Trustees Executors was born; known then as the Trustees Executors and Agency Company of New Zealand Limited.

The company successfully expanded its business activities when a private Act of Parliament was passed enabling it to operate as a Statutory Trust Company in 1882. It now operates under a variety of legislation that enables the company to act as trustee for debt and similar securities, participatory securities, unit trusts and as trustee to various superannuation schemes.

For many years, Trustees Executors was listed on the New Zealand Stock Exchange. In the 1970s it was acquired by the National Insurance Company of New Zealand Limited, and then became a wholly owned subsidiary of TOWER Corporation in 1988, retaining its name until early 1999.

The demutualisation of TOWER in early 1999 meant that a level of re-branding was required to bring all group companies into line before TOWER was listed. This resulted in Trustees Executors becoming TOWER Trust New Zealand in April 1999. The company was then operationally merged with TOWER Trust Australia to become Tower Trust in May 2000.

TOWER Trust was then acquired by investment firm Sterling Grace Corporation in mid 2003. The first order of business was to return to the company’s original brand name, Trustees Executors Limited.

This was important to the president as the name Trustees Executors is one of the most recognised and established brand names in New Zealand. Its use throughout its 130 year history conveys the strength and security that its clients have come to expect.

The acquisition of Trustees Executors by Sterling Grace has created opportunities for the company as an independent provider of trust, custody, and financial advisory services in the New Zealand financial services market.

The established market position and unparalleled reputation for quality and reliability that Trustees Executors has, were key determinants in the purchase of the company. These same values are the foundation on which the company bases its present and future successes to ensure a continued, profitable future.

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Ascent Limited

Experience The Difference. Ascent Limited provides first class wealth management and family office services. Our private banking team, assembled from a group of highly experienced banking professionals, will provide financial advice tailored to your individual requirements and keep your portfolio in tune with the latest market developments and opportunities.

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