NAB has extended an important asset servicing mandate.
The big banking group announced this week it had been successful in extending its decade-long asset servicing partnership with the University of Sydney by a further five years.
Commenting on the development, NAB Asset Servicing executive general manager, John Comito said the business was very excited that The University of Sydney had chosen to extend what had been a long term relationship.
"They are an iconic institution with strong values and vision so we are proud to remain a major partner of theirs," he said.
“A modern University has complex banking needs in a range of international markets. The University and higher education sectors are extremely important markets for Asset Servicing and the broader NAB group. Our flexible and service-oriented approach put us in the best position to continue to act as custodian for the University,” Comito said.
University of Sydney treasurer Laurie Zanella said the university had been impressed by NAB's expertise in the university sector and its ability to adapt to its changing needs in relation to the management of endowment funds,
"We have developed a strong and trusted relationship with NAB over an extended period utilising a wide range of their banking products including the custodial service," he said. "NAB Asset Servicing’s in-region support and face-to-face service model is extremely important for our business."