Australia is the latest country to be reorganised under JP Morgan’s new Asia-Pacific treasury and securities services management structure, with Japan next in line for a new appointment.
The US bank's acquisition of ANZ's custody business will give it a local sub-custody presence in Australia and New Zealand, and a large share of the master custody market.
Global director of the business, Roger Harrold, discusses the State Street sale and reveals Deutsche''s plans for growing profits, China and fund administration in Korea.
The BNP Paribas Securities Services account win, equal to $4 billion in assets, is evidence of a general shift in Japanese sub-custody business to foreign banks.