NAB Asset Servicing

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 head of NAB’s custody business will step down while its cornerstone client looks for a new service provider.

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.

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.

Australia’s last domestically-owned custodian is winding down its operations after an on-off effort to sell the business.

Talks between NAB Asset Servicing and HSBC for the latter to take charge of the former’s 30 largest clients have allegedly faltered.

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…

NAB Asset Servicing and client Suncorp have signed a new contract for custody and a range of other back and middle-office services following a complicated on-again off-again relationship between the two banks dating back to 2013. The new contract, expected to be announced this week, lays to rest several years of uncertainty over the relationship,…