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Post-NAB Asset Servicing, BNP Paribas expects ‘much more intense competition’

The chief of BNP Paribas’ local securities services division expects that the period of heated competition that followed the exit of NAB Asset Servicing will continue, with custody banks leveraging their offshore footprints and private markets capabilities in the fight for new business.

Lachlan Maddock | 24th May 2024 | More
Equip taps Northern Trust for custody

The $34 billion super fund has appointed Northern Trust for asset servicing solutions, becoming the latest NAB Asset Servicing client to find a new home.

Staff Writer | 24th May 2024 | More
  • How BNP rides the private assets boom

    Surging interest in the private markets from asset owners and managers requires heavy investment in tech and teams for the custodians that service them, and is set to keep back-offices busy for a while yet.

    David Chaplin | 15th May 2024 | More
    Perpetual hands front office to State Street’s Charles River

    Perpetual will use Charles River Development’s Investment Management Solution for its front-office operations as it prepares for an “evolving investment management landscape”.

    Lachlan Maddock | 27th Mar 2024 | More
  • Why BNP’s Australian ambitions go beyond growth for the sake of growth

    It’s picked up hundreds of billions in custody assets from the NAS exit, but BNP Paribas wants to lock them down before it goes hunting for more – with private markets and its offshore presence at the top of the pitch deck.

    Lachlan Maddock | 20th Mar 2024 | More
    BNP notches more wins from NAS

    BNP Paribas’ securities services division has done well for itself in the NAB Asset Servicing feeding frenzy, adding a fistful of managers and insurers to its platform in addition to its big Insignia Financial win.

    Lachlan Maddock | 1st Mar 2024 | More
    State Street prepares to bring $80 billion of new clients aboard

    The custodian has leapt up the league tables off the back of its big Australian Retirement Trust win, and it’s now getting ready to transfer a number of former NAS clients to its platform even as it beds down the megafund integration.

    Lachlan Maddock | 28th Feb 2024 | More
    Citi Securities Services takes custody of Ausbil

    Another former NAS client has found a new home, with Citi Securities Services bringing fund manager Ausbil on board following a “rigorous tender and due diligence process”.

    Lachlan Maddock | 19th Feb 2024 | More
    ‘Reputation is the first casualty’: ACSA warns on cyber risk for super funds, custodians

    Local institutions need to be prepared for rising cyber threats while keeping both eyes on the reputational damage that can stem from a successful breach, according to the Australian Custodial Services Association.

    Lachlan Maddock | 15th Dec 2023 | More
  • No ‘white knight’ for NAS clients (but good outcomes in sight)

    A big global custodian is unlikely to swoop in and help former NAB Asset Servicing clients as they search for a new provider, but that doesn’t mean they can’t get a better outcome by taking a good look at their business.

    Lachlan Maddock | 8th Dec 2023 | More
    State Street wants to give its clients an AI ‘co-pilot’

    The custodian is exploring use cases for machine learning and generative artificial intelligence to give its clients help in parsing – and visualising – the vast quantities of granular data now available to them.

    Lachlan Maddock | 1st Dec 2023 | More
    BNP Paribas takes all at Insignia Financial

    BNP Paribas’ securities services division has had a big win after being brought in to keep the preferred candidate honest on price during the tender process for MLC.

    Lachlan Maddock | 22nd Nov 2023 | More
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