Non-domestic custodians notch up big deals in Australia

BNP Paribas Securities Services takes A$50 billion of UniSuper assets previously run by NAB

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UniSuper, one of Australia's largest superannuation funds managing approximately A$50 billion ($36.8 billion) of assets on behalf of more than 370,000 current and former higher education workers, has appointed BNP Paribas Securities Services as its master custodian. The global bank replaces National Australia Bank Asset Servicing, which had been UniSuper's master custodian for 23 years.

Meanwhile, RBC Investor & Treasury Services has signed up Legg Mason Australia, the Australian arm of US-liste