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 October 2007 00:00
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Investments
Asset managers that underestimate the importance of artificial intelligence to their businesses do so at their own peril, according to Anton Eser, global chief investment officer of Robeco, who thinks that many have less than a year to get across the “most important transformation” the industry has seen since the beginning of the index business more than 25 years ago.
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