NAB to sell Ausmaq to Clearstream



National Australia Bank (NAB) announced today it has entered into an agreement with Clearstream to sell its specialist managed funds services business, Ausmaq Limited (Ausmaq).

Ausmaq administers unlisted managed funds and term deposits for wrap platform providers and wealth managers in Australia. Ausmaq is currently a wholly-owned subsidiary of the NAB Group. The financial impact of the sale is immaterial for NAB.

A wholly-owned subsidiary of Deutsche Börse Group, Clearstream is one of the world’s largest settlement and custody firms for domestic and international securities. Clearstream is an international central securities depository (ICSD) headquartered in Luxembourg.

Ausmaq CEO, Ravi Subramaniam, said, “Today’s announcement is the beginning of an exciting new chapter for Ausmaq. We’re thrilled to be joining an organisation of Clearstream’s calibre – a recognised global leader in post-trade services. Our clients can expect to receive the same exemplary service that they’ve become accustomed to over the years, with increases in the service offering to be introduced over time.” 

Completion of the sale is subject to customary closing conditions including regulatory approval and is expected to be finalised in the next few months. 

Read the media release about the announcement.




Related Articles

  • Economy

Melbourne and Sydney businesses “Enchanted” by Taylor’s Aussie Era

Taylor fever gripped Sydney-siders last weekend, with an estimated $135 million boost in spending recorded at businesses in Sydney’s inner suburbs

  • 28.02.2024
  • Time to read 1 min read
  • Scams

“No, mate, I’m not going to do it until I speak to somebody from NAB.”

This is the moment a scam savvy customer stopped a criminal in his tracks.   NAB customer Ray from NSW recognised the red flags of a scammer trying to impersonate the bank who was encouraging him to click a link in a text message.

  • 28.02.2024
  • Time to read 3 min read
  • UBank

Ubank’s new bills and budgeting tools help customers see their money clearly

NAB-owned digital bank ubank has launched new bills and budgeting app features to make money management stress-free.

  • 27.02.2024
  • Time to read 4 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.