Deutsche Bank (China) has successfully secured its first local fund custody deal in China, providing services to a Chinese fund management firm.
Deutsche Bank will act as both local custodian in China as well as offshore custodian for this client. The custody offering will enable the Chinese fund manager to offer its investors improved tools for navigating global capital markets.
“Deutsche Bank’s global network makes it easier to support cross-border investment flows,” explained Tony Chao, Greater China head and head of North Asia sales for securities services at Deutsche Bank. “Not only can we help domestic investors with their overseas requirements, but we can also support offshore clients when accessing China.”
The announcement follows the appointment of Ben Li to the role of head of securities services for Greater China in August. Li joined Deutsche Bank with 20 years of experience in securities services, arriving from HSBC China, where he developed expertise in onshore custody services for outbound and inbound clients.
Commenting on the mandate win, Li said: “The launch of our first local fund custody deal is a good recognition from clients on our custody capabilities in China market. With strong commitment in China market, Deutsche Bank not just continues serving as the platform to connect East and West but will also bring in our best international custody practice, such as risk control management, ESG support, etc. to the fast growing China capital market.”