Standard Chartered picks up sub-custody account in Japan

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.
August 16, 2001
Standard Chartered has been appointed to handle local settlement and clearing for global custodian BNP Paribas Securities Services in Japan. The UK-based bank will look after $4 billion in assets under custody that BNP Paribas manages for institutional clients - one of the largest portfolios in the country.

Standard Chartered won the account from Bank of Tokyo Mitsubishi.

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