The increasingly complex global business model is one of the factors forcing asset owners and asset managers to look at middle-office outsourcing. Our guests discuss the issue in an AsianInvestor webcast.
Changes include increasing the allocation to global equities from 70% to 75%, of which 65% is to be targeted at developed markets and 10% to emerging markets.
Michael Wu moves over from State Street to help strengthen Northern Trust's presence in China, as global custodians capitalise on rising opportunities from overseas investments.
The investment management arm is talking to potential partners.
It is expanding its Hong Kong office to market multi-manager and other institutional investment-related services.
The US custodian is opening a rep office in Beijing.