Custodians will have to deliver outsourcing service models that can support and accelerate growth for some of Asia's largest asset owners and managers, according to State Street's head of APAC Mostapha Tahiri.
Tag: Asset managers
The partnership will enable asset management clients to better consolidate and analyse their trading and portfolio data.
The collective scores of all the providers in the survey shows that respondents were very happy with the service delivered during a time of increased operational strain and changing market factors.
The US bank is building out a new client services team focused on delivering a global securities services model for asset managers.
Over the past year, the Cincinnati-based fund administrator has acquired over $100 billion in assets under administration from 12 fund manager clients.
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State Street has hired a 20-year asset management veteran who held senior roles with JP Morgan Asset Management and BlackRock for the newly-created role in APAC.
The move marks the latest development in the securities lending market, as more asset managers seek to lend their holdings to other investors.
The findings follows a wave of buy-side firms that have expanded into private markets in response to increasing pressure on performance and fees.
The move is the first by JP Morgan since the restructure to the securities services business earlier this year.