Kookmin moves to boost custody business
The Korean bank’s custody unit recently upgraded its infrastructure, started working with JP Morgan and gained a couple of sizeable new clients.
Kookmin Bank is seeking to strengthen its position as South Korea's leading domestic custodian by winning more local insurance and pension clients, strengthening its international offering and striking more custody partnerships.
Recent wins for the firm include a first custody mandate for Korea Post’s insurance fund, signed in June. It was also chosen late last year as a custodian by US insurance firm MetLife.
These deals reflect Kookmin’s focus this year on the insurance and pe…
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