The asset servicing business of National Australia Bank has signed a memorandum of understanding with MMc, a specialist fund and investment administration business.
The agreement means NAB can now offer fund administration services in New Zealand, in addition to its existing custody business.
“In line with our strategy, we are partnering with a recognised investment administration provider in the New Zealand market which supports our own domestic custodian service in the region,” said NAB Asset Servicing general manager, capability deliver, Carl Spurling.
“The MMc alliance allows us to support our Australian clients with New Zealand operations as well as grow an additional base of clients in the New Zealand market.”
