The participation of CITIC CLSA is the latest milestone for BNY Mellon as it looks to make Chinese securities more widely accepted by global trading firms.
The milestone represents a 30% year-on-year increase, while assets under administration (AuA) also reached a new high.
Citi will be able to begin offering local custody services to China’s $19 trillion asset management market, which has been a long-term target for global custodians.
Two mandates make the custodian the first foreign bank to execute deals in both domestic mutual fund and WFOE segments.
Northern Trust has promoted a 15-year Chinese client relationship manager to the role, marking its latest appointment for the APAC and North Asia regions.
New head of China for Apex joins from TMF Group, as the securities service provider continues to bolster its team in APAC.
The move comes as international investors look to significantly increase their access to China’s $13.9 trillion bond market.
New public mutual fund launches in China totalled $163 billion (RMB 1.07 trillion) in the first quarter of the year.
The move by Daiwa AM could revitalise investment activity conducted on the China-Japan ETF Connectivity scheme.