RBC Investor & Treasury Services has been appointed as custodian and administrator for Legg Mason Australia, the Australian arm of US-listed Legg Mason Global Asset Management.
Legg Mason is one of the world’s largest asset managers, with more than AUD 970 billion under management, spread over various specialist independent brands.
The Australian business and its affiliates manage more than AUD 22 billion across many asset classes for institutional and retail clients. It has a comprehensive investment range covering both equity and fixed income, using the expertise of recognised local, regional and global investment managers.
Annalisa Clark, country head for Legg Mason Australia, said that RBC was selected after an extensive market review.
She said: “We were attracted to [RBC’s] level of agility and responsiveness as well as their significant focus on an integrated retail and wholesale registry offering.”
“RBC Investor & Treasury Services is backed by the strength and global position of one of the largest and strongest banks in the world and has the highest credit rating of all the global custody providers operating in Australia, which were important factors in our selection.”
David Travers, managing director of RBC Investor & Treasury Services, said: “We are committed to servicing clients like Legg Mason who require an integrated offering that is focused on asset managers and their needs.”
“Understanding the needs of asset managers who want to grow their distribution through technology and integration is central to our service. RBC’s focus is to blend our specialised asset manager services into our clients’ operations.”
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