Standard Chartered picks up sub-custody account in Japan

Standard Chartered won the account from Bank of Tokyo Mitsubishi.

Paul Hedges, head of custody sales and relationship management for Standard Chartered in Europe, says the appointment illustrates a wider trend for foreign custodians in Japan to transfer their accounts from Japanese banks to foreign providers.

Japan was traditionally one of those markets where everyone used a local sub-custodian because they were the only ones that...