ACSA

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.

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.

Record asset prices in major markets over the past six months have helped Australia’s asset servicing firms to a record level of assets under custody, rising to $4.4 trillion at the end of June. The latest figures from the Australian Custodial Services Association, published last Friday (August 6), show J.P. Morgan consolidating its number one…

A key and enduring theme of the work of the Australian Custodial Services Association is the search for ever-greater efficiency in financial markets. Custodians need always be prepared for the next ‘Uber moment’. The latest such moment came in February last year when Magellan Financial Group launched the first quoted managed fund, on behalf of…

Rob Brown has resigned his position as chief executive of the Australian Custodial Services Association to pursue business interests. He will continue until a suitable replacement is found. Brown has spent many years in asset servicing, starting with State Street in the mid-1990s – as well as running NAB-owned Ausmaq for six years until 2010,…

BNP Paribas Securities Services has put on about $140 billion of new custody business in the area of sub custody and clearing in Australia in the past 12 months, pushing it up the market share charts. David Braga, the Head of Securities Services for Australia and New Zealand, confirmed last week (May 13) that BNP…