Complectus completes purchase

Complectus, owner of  Perpetual Guardian, has finalised the purchase of Covenant Trustee Services, which provides corporate trustee and statutory supervisor services to New Zealand businesses, charities and retirement villages.

Covenant Trustee Services now sits as a discrete company alongside Perpetual Guardian in the Complectus group of companies, and Covenant managing director Graham Miller retains his role.

Andrew Barnes, the managing director of Complectus and Perpetual Guardian, says the timeline for sale and purchase was brought forward by mutual agreement. “We found that negotiations proceeded quickly and smoothly, and we thank Graham for his cooperation and support throughout the process."