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Australian equities manager Perennial Value Management has chosen NAB Asset Servicing to provide the firm with custodial and administrative services.
According to a statement, NAB Asset Servicing and Perennial "have enjoyed a 10-plus year relationship through their mutual relationship with IOOF".
NAB Asset Servicing's head of business development for Australia and New Zealand, Peter Hele, said: "We’re very excited that Perennial has decided to appoint us to support them with their back and middle-office services."
"Our strong partnership, ability to execute flexible back office operating models, along with our commercial acumen, put us in the best position to be selected by the Perennial team," Mr Hele said.
"We look forward to working with Perennial Value Management and the opportunity to provide them with market leading products and our broader bank capability."
Perennial Value Management's executive director, Anthony Patterson, said his firm has developed a strong relationship with NAB Asset Servicing over the past decade.
"We have always been impressed by how NAB executes on projects, and this will be a key requirement for our business as we develop and grow into the future," Mr Patterson said.
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