Deutsche Bank China has been appointed as custodian for Hwabao Trust investments under China’s qualified domestic institutional investor (QDII) programme.
As a part of the mandate, Deutsche Bank will act as local master custodian for the company’s equities investment in the Hong Kong market.
Vicky Tsai, head of investor services in China at Deutsche Bank, commented: “We are pleased to be Hwabao Trust’s custodian bank of choice. This QDII mandate underscores the strength of our transaction banking franchise in Greater China. We look forward to building a partnership with Hwabao Trust.”
Perry Qiu, head of international department at Hwabao Trust, added: “It was important to us to choose a global bank with a good track record in servicing QDIIs and a seamless service, especially as we expand our clients’ investments into new markets and asset classes.”
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