Citi launches custody and clearing in Vietnam

Bank believes the countryÆs capital markets are now sufficiently developed to support a securities service business.
CitigroupÆs global transaction services GTS unit has announced its entry into VietnamÆs securities services market. The bank says the move comes in response to a deepening of the countryÆs capital markets, which is prompting growing investor demand.

The operation will be staffed by locals and supported by CitigroupÆs international GTS team and a platform, which services 46 global markets.

WeÆve seen an increasing interest in Vietnam's capital market from our clients globally,ö says Mike Sleightholme, director and head of direct custody and clearing in Asia Pacific. ôThis was the main driver for entering the business along with the strong underlying growth of the Vietnamese economy and the governmentÆs desire to develop capital markets. All of...
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