After losing two custody mandates in recent months; QSuper to State Street in early March, and AvSuper to BNP Paribas in April, NAB have struck gold in a mandate by JCP Investment Partners to provide custody and investment administration services.
The win comes after a two month tender process managed by Foxrock Consulting, a management consulting firm that provides advice to the Australian investment industry.?Brian Keogh, general manager sales, relationships and financial market services, asset servicing said that establishing the relationship with JCB marks NAB's 9th win in 9 months.
Asset Servicing, part of NAB's wholesale banking business, is the largest custodian in the Australian market with $550 billion in assets under custody for Australian investors.
