Custody

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.

As NAB Asset Servicing ceases its operations and its book of orphaned clients come to market Citi Securities Services hopes that a new referral agreement – and its experience with RBC – will give it an edge over other providers.

Just two years after selecting State Street as its custodian, Perpetual is deciding whether to take its business elsewhere in the wake of its acquisition of global fund manager Pendal.

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.