Citi becomes first US bank approved to launch custody operations in China
The license also makes Citi the first among the top five global custodians to win approval to set up shop in China.
The license also makes Citi the first among the top five global custodians to win approval to set up shop in China.
AuM in global active ETFs have increased significantly over the past few years, growing from under $60 billion in 2016 to over $180 billion as of June 2020.
The mandate is a vital win for State Street and its strategy on getting the most out of its largest clients.
As State Street celebrates its 50th anniversary in Europe, Middle East and Africa (EMEA), the development of locally-based solutions could be its greatest asset.
Offered through UMB Bank’s Institutional Custody division, the firm will provide custody and fund accounting to Pear Tree’s six funds with AuM of nearly $5 billion.
Citi has become a key partner for Latin American-based exchanges and CSDs to attract international investors and improve liquidity.
The French bank secured two valuable deals in the second quarter from AXA Belgium and French fund manager Eurazeo.
Pier 21 will utilise CIBC Mellon’s custody and fund administration services for its new institutional pooled funds.
The new ETF follows a ruling from Hong Kong’s SFC which relaxes rules for the master-feeder regime in the territory.
Custodian reports Q2 results with uptick in assets under custody and administration and drop in fees income, as CEO highlights development in self-service capabilities.