HSBC and Citi mandated as sub-custodians by U.S. Bank for APAC markets
The initial markets for the sub-custody services will cover Hong Kong, India, South Korea and Taiwan.
The initial markets for the sub-custody services will cover Hong Kong, India, South Korea and Taiwan.
The new mandate broadens the scope of their existing relationship, consolidating asset servicing across several regions.
First phase of the implementation was completed ahead of schedule, while the second and final phase is due to complete by Q1 2026.
Custodian will also be responsible for transfer agency and recordkeeping functions in relation to the funds.
This updated agreement supports the custodian’s expansion into the US.
New category 4 license enables BNY to offer additional services, including custody, fund administration, and credit and investment deals.
The office will be one of three US locations for the custodian, along with Chicago and Tempe, Arizona.
The engagement with Fiji's sole compulsory superannuation fund marks an expansion of Northern Trust's footprint in the Asia Pacific region.
Tradegate has extended its collaboration with BNP Paribas, appointing its securities services division to oversee settlement and custody for Tradegate’s latest service.
This mandate follows the largest Middle East listing of the Albilad CSOP ETF, offering Saudi investors 30 sharia-compliant Hong Kong stocks.