Global Investor Services (GIS), the custody division of HSBC, has been appointed UK sub-custodian for approximately Euro 1.5 billion of its assets by Natexis Banques Populaires.
The appointment follows a comprehensive review of the UK sub-custodian market by Natexis Banques Populaires, which affirms GIS’ position as the pre-eminent provider of UK sub-custody services.
Assets to be transferred to GIS consist of UK equities and bonds and GIS will effect the transition early in 2002. GIS has also been asked to consider providing performance analytics and stocklending services for this portfolio.