NAB Asset Servicing makes successful transition to Citi



NAB Asset Servicing, the custody arm of National Australia Bank, has today announced the successful transition to Citi as its global custodian.

NAB Asset Servicing executive general manager, John Comito, said completing the transition to Citi was another step towards becoming Australia and New Zealand’s most respected custodian.

“As NAB is the only Australian bank with an asset servicing business, we are uniquely positioned to deliver end to end financial solutions to meet the needs of our customers.

“This is another example of enhancing our offering through strategic partnerships where global scale and expertise is required.

“The successful go-live of the partnership with Citi means customers will continue to benefit from our deep knowledge of the local market as well as gaining direct access to a broad range of foreign markets and an enhanced level of service.

“NAB and Citi have worked together over the past 12 months to ensure the on-time delivery of one of the largest and most complex transitions to take place in the Australian market. The engagement across all levels of our organisations positions us to deliver on our commitments to our customers now and into the future. ”

Citi’s head of securities services in Australia and New Zealand, Martin Carpenter, said that he was delighted that the transition had been completed.

“We are excited about this opportunity to bring our custody network strength to NAB Asset Servicing and their customer base.”

First announced in 2015, the new strategic partnership will provide NAB Asset Servicing customers direct access to 60 markets around the world, as well as provide richer market information and easier access to subject matter experts for complex issues.

The successful transition comes on the back of a period of sustained success for NAB Asset Servicing, which has recently won contracts with Perennial Value Management, APN Funds Management and Optimal Funds Management.

The division was also recently internationally recognised by being named Best Sub-Custodian – Australia & New Zealand by Global Finance for the third straight year, cementing its position as one of the most outstanding custodians in the region.

About NAB Asset Servicing
Asset Servicing, part of NAB’s Corporate & Institutional Banking business, is the largest custodian in the Australian market.  It provides custody, master custody, investment administration and other related services to a range of locally and internationally domiciled customers. These include government agencies, investment managers, superannuation funds, insurance companies and banks. NAB has provided domestic custody services since 1950 and global custody and investment administration services since 1975.



Related Articles

  • Full Year Results

NAB 2021 Full Year Results

NAB Group Chief Executive Officer Ross McEwan today released NAB’s 2021 Full Year Results and Annual Review.

  • 09.11.2021
  • Time to read 1 min read
  • Announcements

Port of Newcastle Hydrogen Hub

  • 08.11.2021
  • Time to read 1 min read
  • Climate

NAB receives HRH The Prince of Wales’ Terra Carta Seal in recognition of commitment to creating a sustainable future

NAB was awarded the inaugural 2021 Terra Carta Seal by His Royal Highness the Prince of Wales at the UN Climate Change Conference (COP26) in Glasgow.

  • 04.11.2021
  • Time to read 2 min read

Quick links

National Australia Bank — NAB

Sometimes When The Unexpected Happens, We Realise What We Truly Value. Whether A Home, Farm, Business Or Your Passion, NAB Is Here To Support You.

Business Research and Insights

For more business news and analysis, visit NAB’s Business Research and Insights.