Standard Chartered Bank has named Alastair Pow as global head of fund services for its securities services business.

Based in Singapore, Pow is responsible for the continued development and deployment of the bankÆs funds services offering to the asset management industry. In line with the bankÆs strategy, Pow focuses on providing comprehensive product and delivery solutions for Asia and the emerging market regions.

Standard Chartered BankÆs securities services focuses on custody, sub-custody and fund administration across Asia, Africa and the Middle East. It is part of the bankÆs transaction banking business, which also provides cash management and trade services.

The bankÆs securities services clients comprise of global custodians, broker-dealers, and international and local institutional investors from North America, Europe, Asia and the Middle East. As a sub-custodian, the bankÆs services include securities settlement, safekeeping of securities, monitoring and action of corporate events, proxy voting and provision of market information. The bankÆs fund services û extended primarily to local investment managers û comprise of daily valuation, segregation of assets, consolidated reporting, cash analysis and forecasting, as well as reconciliation of cash position and securities records.

Pow has joined Standard Chartered Bank from the Bank of New York, where he headed the global fund servicesÆ Asia-Pacific team. With more than 13 years experience in the fund services industry, PowÆs previous roles included establishing a global fund services business in the region as well as covering traditional, alternative and institutional segregated portfolios in support of offshore and onshore mandates.

PowÆs appointment is in line with the bankÆs efforts to improve and expand its securities services.

ôWe have seen very strong growth in our securities services business in the last couple of years,ö says Neil Daswani, global head of securities services for Standard Chartered Bank. ôOver the last two months, we have assembled an extremely strong senior leadership team. I am confident that with this team now in place, as well as the product, platform capacity and functionality that we are building, we will be even better positioned to grow this business and provide our clients with more value-added solutions.ö

In his role, which he assumed in 2006, Daswani has been responsible for overseeing all of Standard Chartered BankÆs securities services.

For his part, Pow says his main objective is to ensure the continued expansion of the business in a way that delivers clients with well constructed and properly executed service solutions, be it for single markets or across multiple markets.

Standard Chartered Bank generates more than 90% of its profits from Asia, Africa and the Middle East, with balanced income derived from both wholesale and consumer banking.