HSBC was one of the first custodians to win contracts under the LGPS Framework for Global Custody Services in 2014.
Many institutional investors have held back from large-scale investing in cryptocurrencies, largely because of a lack of certainty around the storage and security of digital assets.
Dinn will be responsible for expanding Apex Group’s presence in the custody and depositary market on a global scale.
The depositary will be able to link its UK private and wealth clients to global custodians based in Malta.
Raiffeisen Bank International is to sell its core banking operations in Poland to BNP Paribas S.A, however it seems unlikely to have a significant impact on the custody clients of the two banks.
UK regulator to target business models of third-party outsourcing providers as part of its 2018/19 Business Strategy.
State Street have previously voiced their interest in providing custody services to crypto assets.
The decision comes amid wider fee pressure from asset managers and other client types as they look to reduce their own operating costs.
CACEIS adds Crédit Agricole investment banking head in private equity division.