News

StanChart claims custody first in China

Standard Chartered SingaporeStandard Chartered has become the first foreign bank to execute custody deals in both the domestic and wholly foreign-owned enterprise (WFOE) private custody fund markets. A number of global investment firms have sought WFOE status in recent months and have naturally turned to international custodians to help set up in China. But the lucrative domestic funds market has up to now been dominated by local custodians and banks. In recent months, Chinese authorities have sought to relax some of the regulatory restrictions that have made it hard for global custodians to compete with local rivals. When Deutsche Bank was granted a domestic fund custody license in December 2020, it became only the third foreign player in the market, after Citibank and Standard Chartered. Despite gaining its license in October 2018, Standard Chartered closed its first mutual fund custody deal in June. “We look forward to deepening our role as a connector bank for global institutions looking to enter the Chinese market,” said Margaret Harwood-Jones, co-head of financing and securities services at Standard Chartered. © 2021 funds global asia

Executive Interviews

Executive interview: Nicolas Moreau’s orderly transition

Jul 12, 2021

Nicolas Moreau, CEO of HSBC Asset Management, is moving to Asia as the firm looks to connect more directly with the region’s growth story. ESG is also a key focus – including the ‘just’ carbon...

Executive interview: The man who made Aberdeen

Mar 04, 2021

Martin Gilbert reflects on nearly four decades as Aberdeen CEO, including what he brought to the company, his regrets at not entering into private markets earlier, and passing like ships in the...

Roundtables

Roundtable: How well geared are Japanese assets for a new world?

Jul 12, 2021

As we prepare to emerge from Covid, experts look at overcoming demographic issues through a combination of good tech and corporate governance, improving productivity and meeting an ambitious government carbon emissions reduction target. Chaired by Romil Patel.

Hong Kong roundtable: Increasing China’s prominence as an asset class

Mar 04, 2021

Our line-up of experts in Hong Kong considers the importance of fixed income ETFs, sustainability and the prospects of increasing China in the indices. Chaired by Romil Patel.