NAB still corporate super king
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National Australia Bank (NAB) has won $515 million in new mandates since January, in addition to the $700 million Shell retirement savings scheme it transferred onto its Plum platform last year, reports The Australian Financial Review.
According to the newspaper, the transactions have seen NAB extend its lead over rival AMP as Australia’s biggest corporate superannuation provider.
NAB has won two large mandates this year including the contract to manage the retirement savings of engineering group Downer EDI, worth $170m.
The bank’s wealth management division MLC has added $215m worth of smaller company mandates to the business including Japanese electronics company Sharp and the executives’ plan at David Jones, reports The AFR.
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