BNY Mellon Asset Servicing, the global custodian resulting from the merger of Bank of New York and the Mellon group, is to move its $25 billion of Australian assets under custody from ANZ to National Australia Bank.
The assets will be transitioned in the fourth quarter of this year. The decision followed a review by BNY Mellon, however, BNY has had a strong relationship with NAB for just over 10 years. BNY is NAB’s global custody partner. Patrick Liddy, director of marketing and strategy, said the deal would push NAB’s Australian custody business to about $600 billion.
16/10/2007
liddy, patrick, servicing, mellon, partner, merger, resulting, decision, marketing, nab’s, quarter, strategy
Investments
Aware Super has backed the call for a legislative change that will introduce mandatory human rights due diligence for large Australian companies, as head of responsible investment Liza McDonald said it’s a “reasonable request” which will help asset owners understand and manage the governance risks in their portfolios.
Leave a Comment
You must be logged in to post a comment.