{"id":2113,"date":"2022-05-02T10:51:26","date_gmt":"2022-05-01T21:51:26","guid":{"rendered":"https:\/\/www.mmcnz.co.nz\/?p=2113"},"modified":"2022-05-02T12:10:13","modified_gmt":"2022-05-01T23:10:13","slug":"apex-group-strengthens-global-presence-with-close-of-mmc-acquisition","status":"publish","type":"post","link":"https:\/\/www.mmcnz.co.nz\/apex-group-strengthens-global-presence-with-close-of-mmc-acquisition\/","title":{"rendered":"Apex Group strengthens global presence with close of MMC acquisition"},"content":{"rendered":"\n

Acquisition includes purchase of Australian subsidiary IFAA<\/em><\/h3>\n\n\n\n

Apex Group Ltd. (\u201cApex\u201d or \u201cThe Group\u201d), a global financial services provider, announces today the close of the acquisition of MMC Group (\u201cMMC\u201d), New Zealand\u2019s leading provider of investment administration services, which includes the wholly-owned IFAA Group (\u201cIFAA\u201d) in Australia that offers fund administration, compliance and auxiliary services to the Australian superannuation industry.<\/p>\n\n\n\n

Founded in 2005, MMC provides full outsourced investment administration services to New Zealand\u2019s investment managers. MMC has grown to administer funds over NZ$100 billion (US$68bn) and over 900,000 active investor portfolios, with over 100 clients entrusting MMC with their investment administration.<\/p>\n\n\n\n

The acquisition of the MMC business marks Apex\u2019s entry into the New Zealand geography through the addition of an experienced team of 170 people, based in Auckland. Rebranding as part of Apex Group, MMC will continue to provide high quality fund and wealth administration services to the New Zealand investment market.<\/p>\n\n\n\n

This acquisition will also strengthen the provision of services to clients in the Australian market with IFAA enhancing the Group\u2019s ability to offer a comprehensive service to Australian superannuation fund clients, delivered by a team of 30 local market experts.<\/p>\n\n\n\n

Through this acquisition, MMC and IFAA\u2019s clients will now benefit from access to the Group\u2019s global, cross-jurisdictional reach and range of additional services including digital banking, global compliance solutions and ESG Ratings and Advisory; and accessing new markets through its international network.<\/p>\n\n\n\n

This is the latest in a series of successfully integrated global acquisitions for Apex including the addition of Australia-based Mainstream Group<\/a>. Following completion of announced acquisitions, Apex will operate from over 80 offices in 40 countries worldwide, with 9,000 employees servicing an expected US$2.5 trillion in assets across administration, depositary, custody and under management.<\/p>\n\n\n\n

Peter Hughes, Founder and CEO of Apex Group <\/strong>comments: <\/strong>\u201cWe are excited by the additions of MMC and IFAA to Apex Group, which will provide a supportive platform for their continued success and growth. We see huge opportunity in the thriving New Zealand and Australian investment markets and the local expertise of the MMC team will underpin the delivery of our broad range of high-quality solutions for clients. We look forward to the benefits this acquisition will also bring for MMC and IFAA\u2019s existing client base and employees, providing them with access to the Group\u2019s scalable single-source solution, technology innovation, international reach and market connectivity.\u201d<\/p>\n\n\n\n

Vedran Babic, CEO of MMC Group <\/strong>adds: <\/strong>\u201cBeing part of the Apex Group will create new opportunities for our clients and people. Our primary focus on setting clients free to accelerate their success will continue and be further enhanced by the Group\u2019s global footprint, resources, access to new technology and services, which the entire investment sector in New Zealand will benefit from.\u201d<\/p>\n\n\n\n

Andrew Griffioen<\/strong>, CEO of <\/strong>IFAA <\/strong>further adds:<\/strong> <\/strong>\u201cIFAA Group are excited to be joining Apex Group. The growth of Apex in the Australian Superannuation administration market is a significant opportunity for our current and future clients to benefit from the services of a global organisation with local capability and a client centric ethos.\u201d<\/p>\n\n\n\n

Terms of the transaction are undisclosed. Macquarie Capital acted as financial advisor to Apex Group. Rothschild & Co and Cameron Partners served as financial advisors to MMC.<\/p>\n\n\n\n

Ends<\/strong><\/p>\n\n\n\n

Notes to Editor:<\/strong><\/h5>\n\n\n\n

About Apex Group<\/strong><\/p>\n\n\n\n

Apex Group Ltd<\/a>., established in Bermuda in 2003, is a global financial services provider. With over 80 offices in 40 countries worldwide and over 9,000 employees upon the close of announced acquisitions, Apex delivers an extensive range of services to asset managers, capital markets, private clients and family offices. The Group has continually improved and evolved its capabilities to offer a single-source solution through establishing the broadest range of services in the industry; including fund services, digital onboarding and bank accounts, depositary, custody and super ManCo services, business services including HR and Payroll and a pioneering ESG Ratings and Advisory service for private companies.<\/p>\n\n\n\n

About MMC Group and IFAA Group<\/strong><\/p>\n\n\n\n

Behind the scenes powering their clients\u2019 success is where MMC are at their happiest. Since 2005, MMC have provided outsourced investment administration services to the New Zealand investment sector.<\/p>\n\n\n\n

Auckland-based MMC administers combined funds of around $100 billion for approximately 100 clients who range from investment managers to product providers and groups of investment professionals.<\/p>\n\n\n\n

IFAA Group<\/a> has been providing fund administration, auxiliary, compliance and training services to the Australian superannuation industry since 1998. MMC acquired 100% of IFAA Group in January 2021.<\/p>\n\n\n\n

Press contacts<\/strong><\/p>\n\n\n\n

Apex Group: Antonia Powell, Head of Media Relations | Antonia.powell@apexfs.com<\/a> | +44 (0)77 8990 2279<\/p>\n\n\n\n

MMC Group: Christina Bendall, Chief Marketing Officer | cbendall@mmcnz.co.nz<\/a> | +64 021 997 611<\/p>\n\n\n\n

IFAA Group: Andrew Griffioen | andrew.griffioen@ifaa.com.au<\/a> | +61 423 742 847<\/p>\n","protected":false},"excerpt":{"rendered":"

The New Zealand investment market will benefit from a broad range of leading investment administration services. <\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"content-type":""},"categories":[1],"tags":[],"acf":[],"yoast_head":"\nApex Group strengthens global presence with close of MMC acquisition - Apex NZ<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mmcnz.co.nz\/apex-group-strengthens-global-presence-with-close-of-mmc-acquisition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Apex Group strengthens global presence with close of MMC acquisition - Apex NZ\" \/>\n<meta property=\"og:description\" content=\"The New Zealand investment market will 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