NAB grabs custodian deal with Perennial Value Management
NAB Asset Servicing (NAB AS) has secured a deal to provide custodial and administrative services to Perennial Value Management, which is set to boost Perennial's banking capability.
NAB AS and Perennial will work off the back of a 10+ year relationship through IOOF Holdings, which, according to NAB head of business development Peter Hele, will make the difference.
"Our strong partnership and ability to execute flexible back office operating models...puts us in the best position to be selected by Perennial," Hale said.
"We look forward to providing them with market leading products and broader banking capability."
Perennial executive director, Anthony Patterson is also confident in the company's prior involvement with NAB, including the opportunity for Perennial to achieve their business growth strategies, which has $9 billion in funds under management at present.
"We have developed strong relationships with both NAB Asset Servicing and broader enterprise," he said.
"This will be a key requirement for our business as we develop."
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