NAB Asset Servicing's new mandate
NAB Asset Servicing has secured another custody mandate - this time Health Industry Plan (HIP).
The National Australia Bank's asset servicing business announced this week it had been appointed to provide custodial and investment administration services to HIP.
The mandate is the result of a competitive tender process led by Jana as consultants.
Commenting on the mandate, HIP chief executive Ross Bernays said NAB had been selected on the basis of its understanding of the super system, its technological capabilities and its international strategic partnerships.
NAB Asset Servicing executive general manager Leigh Watson said the HIP mandate stood as testament to the company's 60 years experience in providing custody services, including renowned unit pricing and tax and accounting capabilities.
"Our business offers a one-stop-shop with a single contract backed by one of the world's strongest banks," he said.
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