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AAS healthy despite review
Telstra subsidiary KAZ on Wednesday put paid to on-going speculation about the future of Australian Administration Services (AAS), confirming it was reviewing the future of the administration operation, including a possible sale.
Speculation regarding the future of AAS was prompted by preparatory work surrounding the sale of the third tranche of Telstra and the decision by the Russell Investment Group to sell its administration division to IBM.
Managing director of KAZ Stuart Korchinski as recently as last month told Super Review that AAS was doing well in a highly competitive market, and that there was no underlying financial imperative for Telstra to sell off the business.
However, in an announcement issued to media outlets on Wednesday, KAZ said it was considering a number of options for its superannuation administration business, with one option being a sale.
It said it expected to complete its review of the AAS operation by the end of July.
AUTHOR
Mike Taylor
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