Clearstream selects Standard Chartered
This appointment follows Clearstream’s recent mandate for Standard Chartered Bank to provide similar services in the Philippines.
“Through these two mandates
“Given Africa’s growth potential, our clients are showing an increasing interest for exposures to South African equities and currency investments, Bosquet added.
"Standard Chartered’s unique global footprint enables us to gain a consistent approach in managing client portfolios in diverse markets such as South Africa.”
Jiten Arora, global head of sales, transaction banking at Standard Chartered, said: "This appointment follows the recent announcement of our new integrated custody platform launch and is a clear acknowledgement of our securities services capabilities".
CEO and area general manager of Standard Chartered’s Southern African markets, Ebenezer Essoka said: “With many South African companies expanding their operations across Africa, the JSE is a valuable exchange for investors to not only gain exposure to South Africa’s growth sectors, but also to benefit from the resource potential and development we are seeing in other leading African markets, where local stock exchanges may not be available or as easily accessible,”
Standard Chartered launched securities services in South Africa in March 2012. South Africa is the fifth new African market since the bank acquired Barclays Africa custody services in 2010.
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