The launch of the Finland direct custody service marks the completion of a 14-year build-out of its Nordic sub-custody business by the US bank.
Tag: Sub custody
DZ Privatbank consolidated its fixed income and equity assets in Luxembourg and migrated them to Deutsche Bank’s platform in Spain.
The decision comes after a strategic review on its securities services businesses in the region, and has instead opted to focus on its global custody product.
Citi has made a number of recent moves to expand its sub-custody network over the past year with new businesses in Finland, Norway and Saudi Arabia.
The drop across the industry bucks a four-year growth streak which begun to pick up significantly from 2016.
Emma Prophet had led Morgan Stanley’s global network of agent banks and central securities depository (CSD) relationships for over three years.
The publication of the latest Agent Banks in Emerging Markets Survey points to a calming of nerves.
APAC markets outside of China are seeing renewed interest from global institutional investors following a series of market structure and regulatory reforms.
Global Custodian looks at some of the critical issues discussed at The Network Forum Middle East Meeting in Oman earlier this week.