BNY Mellon will offer custody services to clients of Australian-based One Investment Group.
Regulator accuses custodians in Australia of failing to adhere to new rules.
Northern Trust has made three new hires to its Sydney and Melbourne offices as it increases its presence in Australia.
Authorities in Hong Kong and Australia have signed an agreement to foster innovation in Asia.
Sally Surgeon, Northern Trust’s head of client services for Australasia, will also head up the custodian’s office in Sydney.
Northern Trust will continue to provide custody services for the AUS $40 billion Australian government employee and defence force pension fund.
RBC Investor & Treasury Services will provide custodian and administration services to Australian based UFS.
Mainstream BPO will now have exposure to the world’s largest hedge fund market.