Perpetual Guardian to re-arrange private client appointments
Since 2014, The New Zealand Guardian Trust Company Limited (NZGT) and Perpetual Trust Limited (PTL) have traded together as “Perpetual Guardian”, with both companies providing a range of fiduciary, estate planning, philanthropic and investment advisory services to private clients under the Perpetual Guardian brand.
On 8 October 2019, NZGT obtained orders from the High Court transferring NZGT’s private client trustee and executor/administrator appointments to PTL. These orders are part of a broader series of administrative changes that will result in PTL assuming responsibility for the provision of all private client services under the Perpetual Guardian brand. This transition is expected to provide a number of regulatory, administrative and commercial benefits to the companies and their respective client bases.
In the High Court’s decision, his Honour Justice Lang described the substitution of PTL for trustee and executor/administrator as a “like for like” administrative change and found that “settlors, beneficiaries, co-trustees and creditors will not notice any difference in practical terms once the proposal is implemented”. NZGT and PTL consider that the transfer will have no appreciable effects on any of its private clients – it will be business as usual, and you will still interact with the same staff, in the same offices, using the same contact numbers.
If you have any questions about the transfer, please see our FAQ and do not hesitate to contact your Perpetual Guardian client manager for more information.
Over the next few months Senior staff will be at local branches to discuss this further, should you have any questions. For details of the dates and times click here.