The changes follows a decision by the bank to centralise all of its custody and fund services activities under one combined unit.
Standard Bank will partner with BNY Mellon, building on their 23-year strategic relationship, to deliver on the GEPF mandate.
Overall securities services revenues dropped only marginally in 2020 compared with 2019, with fund services sector even producing record returns.
The former JP Morgan and State Street securities services veteran has retired after 32 years in the Australian asset servicing industry.
The launch of the solution comes as BlackRock looks to make its Aladdin Provider platform a core infrastructure used between investment managers and asset servicers.
Mandate follows agreement in January to integrate Amundi’s portfolio management system into BNY Mellon’s front-to-back technology infrastructure.
The license follows FAB’s recent agreement to acquire Bank Audi Egypt, which included its local custody business.
The hire is the second former State Street executive to join Citi’s securities services sales team after it a recruited new head of APAC sales this week.
BNY Mellon said it plans to offer its new digital assets custody and administration services later this year.