Mason Stevens has appointed a new sub-custodian and we are pleased to announce that effective 17 April 2023, Citibank N.A. (Citibank) will replace National Australia Bank (NAB) as the sub-custodian for the Mason Stevens platform.
We wish to inform you the transition to the new sub-custodian is scheduled to take place between 13 April and 17 April 2023. This is a major release that will impact all our activities across the platform, resulting in important changes that you need to be aware of.
What do you need to know?
Please be advised that there will be scheduled downtime across the platform leading up to the weekend of the transition to the new sub-custodian. As a result, you will not be able to trade on the platform between 12am on Thursday 13 April (AEST) and 7am on Monday 17 April (AEST). This is a necessary outage and we apologise for the inconvenience. Please contact our Trading Team should you have urgent trading needs over that period.
Changes to our disclosure documents
We will be updating our suite of disclosure documents including:
- Mason Stevens Financial Services Guide
- Mason Stevens Global Investment Service Guide
- Mason Stevens Super Product Disclosure Statement
What does this mean for you?
- No increase or changes to fees paid by your clients.
- No changes to turnaround times.
- Trading outage between 13 April - 17 April as mentioned above – please prepare accordingly.
What does this mean for your clients?
We will not be communicating the above changes to end clients, this is for your information only. The updated disclosure documents will be made available online on the morning of 17 April, and there will be no impact to your clients’ platform experience after the transition is completed.
We believe Citibank are the right fit for our platform offering given they are an experienced and reputable global custodian having a strong strategic alignment to Mason Stevens’ unique access to all major global markets.
If you have any questions, please reach out to your Relationship Manager.