NAB looks at options on custody business

ASX/funds-management/national-australia-bank/australian-securities-exchange/

1 July 2014
| By Mike |
image
image
expand image

National Australia Bank (NAB) has announced to the Australian Securities Exchange (ASX) that it is "in the process of undertaking discussions with a number of global custody providers regarding potential options for the future operation of the NAB Asset Servicing business".

The announcement said the bank was constantly assessing ways in which it could improve its offering to customers and that, for example, "our current offering incorporates both global and local custody providers to deliver world-class products and services".

It said that it expected any changes to its operating model would be in line with group strategy to be the leading bank for superannuation and ageing "with asset servicing customers remaining important to the group".

"We will continue to explore potential arrangements over coming months , however the details of any discussions are commercially confidential," the ASX announcement said.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months 4 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

5 months ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

2 weeks 1 day ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

2 weeks 6 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

3 weeks 4 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND