S&P snaps up St George ASSIRT
(11 February 2005 – Australia) Ratings agency Standard & Poor’s has snapped up St George Bank’s ASSIRT business, which provides data and information for the managed funds industry.
St George said the sale of ASSIRT was consistent with its policy of selling non-core assets. The bank wouldn’t disclose how much S&P had paid for the business but said the sale would not have any "material impact".
St George group executive of Wealth Management & Retail Financial Services, Paul Fegan, said the bank would remain a key client of ASSIRT and would continue to rely on the independent quality research it was well known for.
The bank pointed out that ASSIRT Software was a separate business and would stay within SEALCORP.
St George group executive of Wealth Management & Retail Financial Services, Paul Fegan, said the bank would remain a key client of ASSIRT and would continue to rely on the independent quality research it was well known for.
The bank pointed out that ASSIRT Software was a separate business and would stay within SEALCORP.
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