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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…
Rumoured talks between NAB Asset Servicing (NAS) and HSBC have re-opened the possibility that Australia’s last homegrown custody business will finally close its doors. The latest rumour circulating through Australia’s tight-knit asset servicing industry is that HSBC is pitching to negotiate the potential transfer of NAS’ 30 largest clients to its business, while NAS would…
HSBC has recruited a State Street custody veteran as part of a long-planned expansion of its own business. Sinclair Scholfield has been appointed head of sales and client management for HSBC’s Securities Services business in Australia and New Zealand. Scholfield spent the last 18 years at State Street, where he was most recently head of…
On the first weekend of December, Citi Securities Services went live on the last of 26 former RBC Treasury & Investor Services clients, putting an exclamation point behind one of the biggest and most complex of backoffice transitions. The RBC clients, predominantly fund managers and wealth platforms, are adding about $100 billion in assets under…