Ausbil moves closer to Dexia
Australia’s three-year old fund manager — Ausbil Partners - has changed its name to Ausbil Dexia to better reflect its links to European banking group Dexia.
Australia’s three-year old fund manager — Ausbil Partners - has changed its name to Ausbil Dexia to better reflect its links to European banking group Dexia.
Dexia is the parent company of Banque International a Luxembourg (BIL), a 51 per cent joint venture partner in Ausbil Dexia. The other 49 per cent is held by the local management team.
Chief executive Reub Hayes says: “The name change simply reflects the aggressive expansion strategy being implemented by Dexia around the world. The change to Ausbil Dexia aims to unify that presence, underline the Dexia reputation and strengthen the cohesion of the group in all of its markets.”
Ausbil Dexia is a part of the BIL operations arm which leads the group’s private banking, asset management and funds administration businesses.
In its three years on Australian soil, Ausbil Dexia has grown funds under management to $1.4 billion dollars, predominantly in the wholesale superannuation market. Ausbil’s investment team structure and processes will remain unaffected by the name change.
AUTHOR
Recommended for you
Sequoia Financial Group has announced it is selling off its Informed Investor subsidiary which it acquired in April 2022.
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
With only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.
