State Street

State Street has been appointed to provide custody and administration to the $32 billion superannuation fund, with its Brisbane presence one of the key factors in the win.

Big asset owners and managers are embracing the private markets as one avenue for growth, but the complexity that brings to portfolios means they also need to get a better view of what might be decades of siloed information.

Private markets could be almost on par with listed assets in institutional investor portfolios before the end of this decade, according to a new State Street study.

Perpetual will use Charles River Development’s Investment Management Solution for its front-office operations as it prepares for an “evolving investment management landscape”.

The custodian has leapt up the league tables off the back of its big Australian Retirement Trust win, and it’s now getting ready to transfer a number of former NAS clients to its platform even as it beds down the megafund integration.

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.

Big institutions live and die by their data, but State Street finds that very few have a strategy for acquiring and managing it while many are lagging in their technology investment.

Jessica Donohue has a 20-year pedigree with the asset servicing and fund management firm, with leadership roles in its asset owner, investment services and academia segments. She replaces retiring Rick Lacaille as head of global investment insights, sustainability and impact.

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.