Standard Chartered has expanded its product offering in the Middle East with the launch of direct custody services in Saudi Arabia.
The service will be provided through Standard Chartered Capital Saudi Arabia, a wholly owned subsidiary of the group, licensed by the Capital Market Authority of Saudi Arabia.
The new service allows clients to safekeep their financial assets and adds to the bank’s post-trade product capabilities in the region.
A team of local specialists will handle the direct custody services, working alongside Standard Chartered’s global processing hubs.
Sarah Al Khelaiwi, Chief Executive Officer and Head of Capital Markets at Standard Chartered Capital, said:
“With a well-established track record as the leading custodian across MENA, our best-in-class product capabilities are trusted by regulators both in the Middle East and worldwide.”
“The expansion of direct custody in Saudi Arabia positions Standard Chartered as a one-stop-shop for custody, asset servicing and market advocacy, reflecting our strong commitment to supporting investment activities in dynamic, increasingly more sophisticated markets through financial services infrastructure.”
Featured image credit: Standard Chartered
