The corporate trust division of Perpetual Ltd says it will acquire the business operations of Adelaide-based Wignalls Lenders Mortgage Service.
Wignalls is a national mortgage processing and settlement company with about 100 staff across five states.
Perpetual's group executive for the corporate trust division Phil Vernon said the purchase would strengthen the company's provision of services to the securitisation and lending markets.
"Securitisation market growth and increased outsourcing by bank and non-bank institutions has led to the demand for a provider who can meet all the needs of clients under one roof," Mr Vernon said.
"The acquisition of Wignalls adds an important capability to our service offering."
All Wignalls' employees will be offered jobs with Perpetual, and Wignalls will be rebranded as Perpetual Lenders Mortgage Services.
Perpetual company declined to reveal the cost of the purchase.
Source: AAP
