Wed, 09 Nov 2005
MEDIA RELEASE
TOWER has announced plans to outsource the administration of its retail superannuation and insurance bond products to Jacques Martin.
This announcement follows on from the successful outsourcing of the administration of TOWER’s workplace superannuation business earlier this year. The service proposition for these products will not change with TOWER retaining full investment management, product and client relationship services.
Tony Hildyard, CEO of TOWER’s Investment Business comments “Our strength is in funds management and creating savings and investment products that provide real value to our investors. The administration outsourcing of our superannuation and insurance bond products will allow us to focus our efforts on what we do best – providing clients with high quality investment management and servicing.”
There will be no changes to the administration of TOWER’s other retail investment products (unit trusts, group investment funds, master trusts, life policies), which will remain in-house.
Mr Hildyard said, “The administration outsourcing of our retail superannuation and insurance bond products is a positive step to further enhance the service we provide our clients and advisers. We are delighted that Jacques Martin will be our partner in providing superior administration services for these products. They have already demonstrated the strength of their capabilities with the successful outsourcing of our workplace superannuation administration earlier in 2005.”
Back to Archived Announcements 2005