EQT Holdings Limited (ASX: EQT), the holding company for Equity Trustees, today confirmed it is reviewing its investment in the UK and Ireland and exploring options for the future of the businesses.
Equity Trustees’ Managing Director Mick O’Brien said, “While the businesses are now well established with valuable licences, great teams and a solid foundation of clients, the regulatory environment continues to intensify and competition has increased significantly, leading to increased costs and pricing pressures and requiring further investment.”
It was reported in the media yesterday that Equity Trustees was having discussions with Apex Fund Services in respect of its UK business. Equity Trustees confirmed that it was not currently in discussions with Apex, and that the speculated value has no basis.
“We are reviewing all our strategic options, however no decision has been made and we will keep the market informed in accordance with our continuous disclosure obligations,” Mr O’Brien said.
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Equity Trustees was established in 1888 for the purpose of providing independent and impartial Trustee and Executor services to help families throughout Australia protect their wealth. As Australia’s leading specialist trustee company, we offer a diverse range of services to individuals, families and corporate clients including asset management, estate planning, philanthropic services and Responsible Entity (RE) services for external Fund Managers. Equity Trustees is the brand name of EQT Holdings Limited (ABN 22 607 797 615) and its subsidiary companies, publicly listed company on the Australian Securities Exchange (ASX: EQT) with offices in Melbourne, Bendigo, Sydney, Brisbane, Perth and London..