Kookmin to enter sub-custodian arena

Kookmin Bank says it is not content to remain just the biggest local custodian bank in Korea. It is ready to serve global custodians’ cross-border needs, says Lee Sangbum, head of foreign custody at KB. The bank has approved a big, $8 million budget to develop its multi-currency accounting system, web-based services and faster straight-through processing. Lee says that although Korean banks, like global peers, are scaling down, the bank’s senior management have made a strategic …