Six years ago, BNP Paribas was the only top five global custodian without a presence in the US. Since then, it has established a New York-based operation. How has the bank approached the challenge of breaking in to such a mature market?
Cyber-security could be one of the sections that will be dropped from an industry-wide questionnaire network managers use when selecting a sub-custodian.
Citi already offers direct custody and clearing services in Denmark, Finland and Sweden, with expansion taking its European sub-custody network to 37 markets.
