NAB Asset Servicing completes Citi transition

By Larissa Waterson
 — 1 minute read

NAB's custody division has today gone live with Citigroup as its global custodian, replacing Bank of New York Mellon.

In a statement, NAB Asset Servicing said the transition, which began in August 2015, was “one of the largest and most complex transitions to take place in the Australian market.”

NAB Asset Servicing executive general manager, John Comito, said the partnership allows the bank to combine their local expertise with Citigroup’s global network.


“The successful go-live of the partnership with Citi means clients 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,” Mr Comito said.

The new partnership will provide NAB Asset Servicing clients direct access to 60 markets around the world, provide richer market information and easier access to subject matter experts for complex issues, the statement said.

“The engagement across all levels of our organisations positions us well to deliver on our commitments to our clients now and into the future,” Mr Comito said.

Read more:

FOS review points to 'inappropriate advice'

Invest thematically in low-growth world: PGI

New call for super fee transparency

Man Group expands institutional team




The ifa Excellence Awards are back in 2021 and nominations are now open!

This prestigious accolade recognises exceptional professionals within the financial advice industry, shining a light on the outstanding achievements from the nation's best and brightest. If this sounds like you or someone you know, then nominate today for the ifa Excellence Awards 2021! ifa.com.au/excellence-awards


NAB Asset Servicing completes Citi transition
investordaily image
ID logo


related articles

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.