The $35 billion super fund decided to defer the move from a ‘risk management perspective’, given the extreme market volatility caused by the COVID-19 virus.
UniSuper said the decision is aimed at curtailing the amount of short selling that has been sparked by the pandemic.
By taking over RBC’s Australian client-base, Citi will become the second largest custodian in the country, behind JP Morgan.
Fund administrator to offer middle-office services for $10 billion of assets managed by investment manager.
Asset owners have increased demands for technology solutions and near real-time data to support their in-house active investment operations.
JP Morgan continues to cement status as largest asset servicer in Australia with key extension of AUD$12 billion super fund.
State Street has hired a former buy-side executive from HSBC Securities Services to lead its sales initiatives across products and buy-side client sectors.
The Asia-Pacific region has become an important area of growth for Northern Trust to introduce new capital markets products.
The acquisition allows Clearstream to enter the domestic Australian fund markets and to directly serve Australian clients within the same region and time zone.
Superannuation fund owned by the Government of South Australia selects Northern Trust for custody mandate.