17 Nov 2010

New owner of Tyndall Investment's plans to recruit

9:23 am on 17 November 2010

Tyndall Investment's new owner says it plans to recruit rather than shed staff and it will retain the fund manager's brand.

Nikko Asset Management, which is based in Japan, is buying the fund manager from Suncorp Group in a deal worth $A128.5 million.

Tyndall Investments is one of Australia and New Zealand's largest financial services organisations, with $A25 billion under management.

Nikko's head of Asia, Blair Pickerell, says he's excited about the potential to continue to grow the New Zealand business, and explore products from offshore.