Bank of Taiwan has signed a custody collaboration deal with Northern Trust to help Taiwan’s investors benefit from access to a solution combining Northern Trust’s global custody and asset servicing capabilities and Bank of Taiwan’s local expertise.
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The deal will enable Northern Trust to offer offshore global custody and asset servicing solutions for select institutional as well as governmental clients in the Asian country.
Northern Trust already offers asset servicing and asset management solutions to institutional investors and affluent individuals in nine other Asia-Pacific regions, which include Australia, China, Hong Kong, India, Japan, Malaysia, the Philippines, Singapore and South Korea.
Referring to the collaboration deal, Bank of Taiwan chairperson Dr. Jih-Chu Lee said: "Collaborating with Northern Trust as a global custodian provides interested institutional investors access to the benefits of a world-class global custodian, operating in multiple markets across the globe and with top-quality technology and asset servicing capabilities."
Northern Trust Asia-Pacific head William Mak added: "Asia-Pacific is the fastest growing region for Northern Trust and we see significant opportunities to bring our global capabilities to Taiwan. We are pleased to work with Bank of Taiwan whose strong expertise in asset servicing and local custody solutions and client service ethos fits well with our culture of service, expertise and integrity."
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