The Bank of New York announced today that it was chosen by The Great Eastern Life Assurance Company Limited of Singapore to provide master custody services.
The bank will service the account out of its operations and client service centre in Singapore and will provide consolidated reporting to Great Eastern Life for the company’s funds under management.
Founded in 1908, The Great Eastern Life Assurance Company Limited is a life insurance provider in southern Asia, with offices in Singapore and Malaysia. It is a wholly-owned subsidiary of Great Eastern Holdings Ltd, a publicly listed insurance company.
“We are extremely pleased to have the opportunity to provide master custody services to Great Eastern Life,” says Kenneth Lopian, executive vice president and head of The Bank of New York’s Asia-Pacific Division.”This appointment demonstrates the Bank’s commitment to expanding its servicing capability in Singapore and to providing high-quality, locally-based customer service to our Asia-based clients.”