It's common for high net worth individuals to make use of a...

It's common for high net worth individuals to make use of a custodial service. The reasons are many & varied. In this case it could be directly related to the fact some of his NEA shares are held in a trust. It would be common for the trust to require a custodian to hold the shares. Alternatively some of the shares are held in his superannuation fund & the custodian could be administering the fund.

The notification reveals custody was shifted from Bond Street owned by Macquarie to Netwealth Investments.