No battle for custody

KK Tse, CEO Asia of State Street reveals how his bank has managed to increase assets under custody in Asia by 15% over the past year.

It has been a difficult year for the markets. How has it been for State Street

It has been a tough year for most people. For us, however, luckily it has been like 1997-1998 in that we have been able to continue to generate very good business in the region. Due to the economic difficulties in Asia, many institutional investors are changing investment managers this year. But despite that, the bulk of our business is still custody and there are fewer and fewer players in the market. We have very good clients who continue to give us additional business. We have also been able to win new clients. We don't disclose our total assets under...

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