Euroclear and Clearstream have appointed Standard Chartered as a common depository, common service provider and common safe keeper.
As part of the build out of its agency and trust capabilities for Eurobond issuances, the bank will provide common depository, common service provider and common safe-keeper services for the two international central securities depositories (ICSDs) after applying for the role. The appointment is effective as of today.
The new Corporate Agency & Trust business within Transaction Banking division brings together Standard Chartered’s existing services to provide a comprehensive range of agency, trust, escrow and account bank services for its clients.
The launch of the division is also part Standard Chartered’s client-centric strategy and commitment to offer a full suite of Transaction Banking and Financial Markets solutions to meet its clients’ evolving fund raising and financing needs as well as more effectively manage their working capital requirements.
Leveraging Standard Chartered’s global network and local expertise across its footprint of Asia, Africa and the Middle East, the Corporate Agency & Trust business will work closely with the Bank’s Capital Markets and Corporate Finance divisions to seamlessly execute diverse debt transactions for its clients, says Standard Chartered.
The business is led by Paul Wilden, head of Corporate Agency & Trust. Wilden is based in Singapore and reports to Alan Naughton, head of Securities Services and Corporate Agency & Trust.
Naughton comments, “We are delighted with our new Common Depository appointment from both ICSDs. With the newly established business and the ICSD mandates, we are now well-positioned to provide a one-stop solution for our clients across the debt lifecycle.”