National Australia Bank (NAB) and BNY Mellon have strengthened their relationship to deliver a wide range of asset servicing products and services to Australian institutional investors.
The bolstering of the alliance between NAB and BNY Mellon’ will allow both the companies to introduce an expanded suite of products and services, in addition to offer additional support to their respective customers.
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The new alliance aims at gaining from BNY Mellon’s global strengths with NAB’s extensive local expertise and builds up on the comprehensive asset servicing capabilities of both the companies.
The alliance of NAB and BNY Mellon is nearly 20 years old. BNY Mellon has been serving as the primary global custodian of NAB for offshore assets, while NAB is BNY Mellon’s primary sub custodian for Australian and New Zealand assets.
Christine Bartlett, executive general manager with Asset Servicing business of NAB, said: "Building on our custody relationship and entering into a new alliance with BNY Mellon, who is the largest global custodian in the world, will help us support our clients in Australia and New Zealand to achieve their growth ambitions."
Danny McGrady, BNY Mellon’s country executive for Australia, said: "This alliance with NAB is another step in our long term commitment to Australian investors and enhances our position with the institutional market."
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