National Australia Bank has strengthened its alliance with BNY Mellon to offer a wider range of asset servicing products and services to Australian clients.

The two firms have for nearly 20 years shared a custody relationship where BNY Mellon is NAB's primary global custodian for offshore assets and NAB is BNY's primary sub-custodian for Australian and New Zealand assets. This new agreement further builds on their already strong partnership.

"NAB Asset Servicing is the largest custodian in the Australian market... BNY Mellon is the largest global custodian in the world. This will help us support our clients in Australia and New Zealand to achieve their growth ambitions," said Christine Bartlett, executive general manager of NAB Asset Servicing, in a statement.

National Australia Bank is one of Australia's largest banks and serves some 10 million banking and wealth management clients worldwide. BNY Mellon records around $26.3 trillion in assets under custody and/or administration as of 31 March 2013.