bny mellon

Custody

NAB Asset Servicing shifts from BNY to Citi

National Australia Bank Asset Servicing is in the process of switching its global custodian partnership from BNY Mellon to Citi. The move follows a period of disruption at Australia’s largest local custodian that have seen management changes, an aborted sale of the business and the loss of many major clients including Cbus and Unisuper. Former […]
Custody

Post-cost relationships key for custody

It’s not primarily a matter of cost. In Australia’s near-saturated custodian marketplace, superannuation funds have hit the spotlight on custodians’ primary service offerings and relationship engagement as they go out to tender. Jo Townsend, general manager of investments at REST Industry Super, says the fund felt it was “appropriate to go back to basics” in the […]
Investment Strategy

BNY Mellon looks for further acquisitions as prices slide

BNY Mellon is still on the acquisition trail, particularly in Australasia, following the purchase of the stake it did not already own in the former West AM Australia – renamed Ankura Capital – and the London-based Blackfriars Asset Management. Both were divested by German bank WestLB, which has been hit hard by the credit crisis. […]