The superannuation trustee businesses within Sargon's troubled fintech empire have been handed a lifeline, as voluntary administrators at EY entered an exclusive sale agreement with an unnamed investor.
The big four accounting and consulting firm, which was appointed to eight Sargon companies on February 3, has announced it has secured a buyer for Sargon's superannuation trustee and responsible entity businesses, as well as the New Zealand operations.
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Aleks Vickovich leads the Financial Review's coverage of wealth management, specialising in the business and regulation of investment markets, financial advice and superannuation. Email Aleks at aleks.vickovich@afr.com
Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
