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.
The $355 billion AustralianSuper has acquired a $1.4 billion European industrial and logistics portfolio, owned by OMERS real estate subsidiary Oxford Properties. The nation’s biggest fund is targeting a $7.5 billion valuation for the venture and $35 billion allocation in European and UK region before 2030, supported by its biggest international office in London with 121 employees.
Darcy SongJanuary 14, 2025
