Citi Securities Services has won the custody mandate for Mason Stevens as it looks to expand its platform offerings and its previous custodian, NAB Asset Servicing, winds down its operations.
The biggest NZ funds management administration gig could be up for grabs with the $33 billion ANZ Investments understood to be exploring outsourcing options.
Strategic alignment on growth and data capabilities made State Street a good fit for Australian Retirement Trust’s custody needs. Hard-earned experience with mergers helped too.
Link Fund Solutions CEO Paul Khoury has been shown the door following a restructure of the business.
Australia’s last domestically-owned custodian is winding down its operations after an on-off effort to sell the business.
Following a “comprehensive and thorough” tender process, the $230 billion Australian Retirement Trust has consolidated its custody arrangements post-merger.
BNP Paribas Securities Services has gone with local knowledge and experience for the new head of its Australia and New Zealand business, appointing a 24-year State Street veteran to the role.
Northern Trust has joined other global custodians in creating a dedicated division for servicing digital assets.
Talks between NAB Asset Servicing and HSBC for the latter to take charge of the former’s 30 largest clients have allegedly faltered.
Custody competition in Australia is heating up as super funds disappear in a flurry of merger activity. But with the RBC transaction catapulting it up the ACSA tables, Citi says it’s ready to take on all comers.
Martin Carpenter’s “fantastic career” as Citi’s local head of securities services will draw to a close later this year. He’s got no set destination in mind, but there’s still plenty of travel on the cards.
As merger activity continues apace, State Street – armed with its “unique” front-to-back solution – intends to take a dominant position as custodian of choice for the biggest end of town. The super industry and its custodians are now exiting a period of relative stability. The number of funds has more than halved in the…