National Australia Bank’s (NAB) Asset Servicing business has been awarded a further five year custody contract by Prime Super, a $1.6 billion industry fund for regional and rural Australia.
Prime Super has renewed the contract the custodian has held since 2007.
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Prime Super offers employers with solutions to make managing their super obligations as simple as possible.
Christine Bartlett, NAB Asset Servicing executive general manager, said: "We can leverage from the wider range of NAB products and importantly, we can leverage from the largest rural network of any Australian bank.
"This, combined with our proven risk management framework, experience across a broad mix of asset classes, and deep industry experience sets us apart from our competitors. We are delighted to partner with Prime Super and look forward to working together to create quality outcomes for their members," Bartlett added.
Prime Super CEO, Lachlan Baird, said: "Prime Super values long-term relationships and we are pleased that after a competitive tender process, NAB can continue to act as the fund’s custodian. We continue to acknowledge the full scale of their resources as part of the broader NAB Group and hope to continue to leverage these in the future."
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By GlobalDataLachlan Baird said the Prime Super had used a competitive tender process.
