State Street

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

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.

Philip Hope has joined specialist investment and wealth management consulting firm KONU, founded by Paul Toepfer and Greig Nicholson, as a partner.

The investment arm of State Street has forecast a bonanza ahead for environmental, social and governance (ESG) investment service providers as the sector explodes into the mainstream.

While institutions are yet to make the jump into cryptocurrencies, State Street’s move to launch its first new division in 40 years shows that a whole new universe of assets is here to stay.

We’re now living through the end of a three or four decade long secular trend, and the strategies that have worked for super funds might no longer be as effective. But that’s what makes the job fun.

As Paradice’s emerging market equities strategy hits its three-year anniversary, the outlook for the asset class has never been more uncertain. But the local institutional appetite is voracious.

The appetite for risk assets is turning negative, and the world’s largest investors are scurrying away from emerging market equities and debt amidst a rising tide of woe. Few would have predicted that the initial Covid market crash – in which it was determined, once and for all, that the windows on Wall Street don’t…

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…