Citi

Consolidation among superannuation clients is changing the nature of Citi’s business with them, and increased appetite for nation-building in Australia means plenty of opportunities in private markets.

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. “If you’re not able to keep up, you slide into irrelevance,” says Okan Pekin, global head of securities…

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. Carpenter’s 13-year stint as the head of Citi Securities Services for Australasia will conclude in the third quarter of 2022….

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…

Family office portfolios could see massive underperformance ahead with most well-overweight cash, according to the latest Citi Private Bank global survey of the sector. David Bailin, Citi Global Wealth chief investment officer, said about a third of family offices in the survey reported cash holdings of 20 per cent or more while a further third…

Yarra Capital last week completed its acquisition of Nikko Asset Management’s Australian business, taking its assets under management to about $20 billion. Now the hard work begins. Branding has been decided, with Yarra Capital to remain the overall brand, Nikko’s fixed income business to be subsumed into Yarra’s and the old Tyndall Asset Management brand…

Citi has incorporated ESG scores into its global securities services data platform, Citi Velocity Clarity, allowing clients to analyse the sustainability exposure of their holdings at the portfolio and security level. It’s unique to Citi and proving popular with clients. The new capability, which Citi believes is unique among major asset servicing providers, is proving popular with clients, the firm said in…

NAB Asset Servicing is expected to be confirmed as the asset servicing partner of the combined LGIAsuper and Energy Super following competitive pitches between the incumbents of both funds. Thomas Murray was adviser to the new $20 billion fund. The win is a major victory for NAB Asset Servicing (NAS). It is the biggest contested…

After a review which took just over a year, State Street has been awarded the challenging asset servicing task of transitioning Perpetual Investment Management’s Australian funds management business. The ultimate prize may be to also take on the bigger asset base from the Perpetual group’s new US fund management subsidiaries. The announcement last week (January…

With an experienced engineer at the helm, one with a major in ‘mechatronics’ – a blend of mechanical and electronics engineering – and who has spent all his career in medical devices, Australian Unity’s new ‘Future of Healthcare’ fund is looking to add value to its investee companies. Victor Windeyer, the portfolio manager of the…