The Bank of New York has been appointed by China Everbright Bank as global custodian for its qualified domestic institutional investor (QDII) business in China.
The bank already provides China Everbright Bank with cash management and trade finance services and acts as custodian for its proprietary assets.
“The Bank of New York is a premier global custody and securities servicing institution, and we look forward to working with them to develop more opportunities in this important business segment,” says Chen Changhong, general manager of the fund custody department at China Everbright Bank.
Chong Jin Leow, managing director and head of investor services in Asia at The Bank of New York, adds: “As one of the worlds leading securities servicing providers, The Bank of New York is committed to servicing the growing China market and providing the products and services that meet the evolving needs of our clients. We look forward to further developing our relationship with one of Chinas leading banks.”