OneVue, NAB in unit registry partnership

24-Nov-2016

By Daniel Paperny

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National Australia Bank (NAB) Asset Servicing has appointed fund and platform services provider OneVue to oversee the provision of unit registry services to its clients.

OneVue had now secured long-term contracts with four of the six leading custodians in Australia and its organic pipeline was expected to reach beyond $5 million in annualised revenue, the company said in a statement.

Commenting on the announcement, OneVue group managing director Connie Mckeage said the appointment was the culmination of an 18-month selection process, which had enabled the OneVue team to gain a detailed understanding of NAB’s Asset Servicing clients and their requirements.

“It has also enabled us to better prepare for growth. Importantly for all our clients it creates further momentum and choice of product within the fund exchange marketplace,” Mckeage said.

“This represents a step change in OneVue’s growth trajectory [and] we are delighted to be selected to play such an important role.”

NAB Asset Servicing executive general manager John Comito said the partnership was consistent with NAB’s aims of delivering quality products and services to clients.

“NAB is committed to providing clients with seamless access to ‘best-of-breed’ products and capability,” Comito said.

“OneVue’s retail and wholesale unit registry expertise will enable NAB Asset Servicing to deliver leading solutions to our clients.”

OneVue said the deal would take effect immediately and would be followed by a series of transitions.

In the meantime, NAB Asset Servicing will continue to support clients using its existing unit registry platform.

NAB Asset Servicing is one of the largest custodians in Australia, overseeing a range of back-office services for superannuation and fund manager clients, including the safekeeping of assets.

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