In a sign that the tedious job of settling and reconciling trades in India is getting easier, the custody arm of the RBC Financial Group has chosen Standard Chartered as the sole sub-custodian for its Indian assets. The renewed contract sees the departure of Deutsche Bank which was also acting on behalf of the Canadian group in the country.
A subsidiary of the RBC Financial Group Royal Bank of Canada, RBC Global Services was formerly known as Royal Trust Corporation of Canada and is number 11 on the list of the world's largest global custodians. RBC has been working with Standard Chartered in India for seven years and also uses its sub-custody and...
