Standard Chartered Bank has been chosen by Allianz Insurance Management Asia Pacific to be its primary custodian in Asia.
Under the mandate, Standard Chartered will be the custody and associated fund services provider for Allianz’s insurance business in Asia.
“We are delighted to have won this mandate. This is a testimony to Standard Chartered’s strength, capability as well as commitment to the region,” says Jaspal Singh Bindra, Director Asia, Standard Chartered Bank. “This is a significant mandate from one of the largest and most eminent international financial service providers on the Asian insurance market.”
Bruce Bowers, CEO of Allianz Asia Pacific, adds: “Standard Chartered is an excellent provider of custody services and on top of that, one of the banks with the best expertise of Asia. Both partners hold strong positions in their respective markets in Asia.”