NAB to introduce securities lending programme 13 November 2014Melbourne Reporter: Stephanie Palmer
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The National Australia Bank (NAB) has announced plans to introduce an agency securities lending programme as part of its ongoing investment in asset servicing and technology.
The new platform will provide greater flexibility on both counterparty exposure and investment returns. It comes alongside plans to improve performance reporting, and to introduce a new registry platform and client portal.
NAB announced the changes after an eight-month project to determine the best course of action for the company.
Antony Cahill, group executive for products and markets, said: “The eight-month process reinforced to NAB that our customers value our custody services. We look forward to continuing to work closely with our partners in delivering for our asset servicing customers.”
It was also confirmed that NAB will continue its global custody partnership with BNY Mellon to provide a range of investment and technology services.
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