Custody

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.

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

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.

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.

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.

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”.

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.

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.

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.

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.

The rise of artificial intelligence is one of the most significant developments since the dawn of the internet, and Citi Securities Services is exploring use cases for it both inside and outside its business in an effort to make the work of asset servicing more efficient.

The creation of a new investment data platform underpins Aware’s march to managing half of its projected $250 billion FUM internally. State Street is providing the glue that holds it all together.