Sydney
08 March 2017
Reporter: Stephanie Palmer

Australian mandate win for RBC I&TS


RBC Investor & Treasury Services (I&TS) has won the mandate to provide custody and administration services to Uniting Financial Services (UFS) in Australia.

UFS is the treasury and investment services arm of The Uniting Church in Australia, Synod of New South Wales and the Australian Capital Territory, and focuses on ethical and environment, social and governance investment.

Currently, it has about $1.25 billion in funds under management.

According to UFS, the mandate was based partly on RBC I&TS’s experience and specialist expertise.

Warren Bird, executive director of UFS, said: “The investments that RBC I&TS is making in its technology and product offering reinforced our confidence in them as our service provider of choice.”

“Its status as one of the strongest banks in the world with the highest credit rating of all the global custody providers operating in Australia was also an important factor in our selection of RBC.”

David Travers, managing director for Australia at RBC I&TS, said: “We are committed to supporting our clients through our integrated offering and our operational capability.”

“We continue to invest in our technology and our coverage capabilities in order to provide clients such as UFS with outstanding service to support their growth in Australia.”

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Iberclear bank on Citi to provide global custody
20 October 2017 | Madrid | Reporter: Jenna Lomax
The agreement, signed at this years Sibos conference in Toronto, will enable Spanish clearing houses to settle international securities via local CSDs
Clearstream promises post-Brexit services continuity
20 October 2017 | London | Reporter: Jenna Lomax
Despite the uncertainty that came after the referendum results last year, Clearstream said its main objective through Brexit was to minimise risk of cross-border settlement
AI will be transformative, but is still in early stages
19 October 2017 | Toronto | Reporter: Stephanie Palmer
Artificial intelligence is a “transformational technology” that will improve productivity and security, and provide a competitive advantage, according to a live poll at Sibos 2017
Security and standards key in blockchain solutions
19 October 2017 | Toronto | Reporter: Stephanie Palmer
Distributed ledger technology (DLT) solutions should embed security measures at their very core, especially in the financial services space, according to Sibos panellists
LCH promotes Daniel Maguire to CEO
19 October 2017 | London | Reporter: Jenna Lomax
Maguire, who has been COO of the same department since April this year, was previously senior vice president for commodity exotics and hybrids at J.P. Morgan
Swift harmonises VP Securities network in Denmark
19 October 2017 | Toronto | Reporter: Theo Andrew
The enhancement, set to launch in 2018, means banks will face reduced costs by harmonising the network used to connect with other securities markets across the globe
EU commission lays down the law on MiFID II compliance
19 October 2017 | Brussels | Reporter: Jenna Lomax
As many as 19 infringing member states include Belgium, Malta, France, Greece, Luxembourg, Netherlands, Portugal, Spain and Sweden as facing the commission’s wrath
More news