Standard Chartered is custodian for Shinhan Life assets
Standard Chartered Bank Korea announced Thursday it was appointed a custodian for Shinhan Life’s international assets.
Financial institutions provide custody services, safekeeping and administering of financial assets on behalf of investors when they are trading bonds and equities.
Shinhan Life manages onshore assets on its own, but took bids for an offshore bond custodian in August following its merger with Orange Life Insurance in July.
Standard Chartered Bank Korea has been a custodian to Orange Life Insurance's onshore and offshore assets since 2006.
“We will further solidify our partnership with Shinhan Life by providing the best corporate banking services and cooperating on diverse fronts,” said Simon Kellaway, regional head of financing & securities services of the greater China and North-East Asia.