The bank’s strategic investment across its financing and securities services (FSS) business has driven exceptional results in 2024, with over 600 new mandates won, a 12% growth in revenue and a 41% increase in projected annualised revenue from new mandates. Assets under custody grew by 12%, while assets under administration grew by 14%.
Standard Chartered’s approach has been both ambitious and disciplined. The bank deepened its global custody footprint with key launches in Saudi Arabia and Egypt, cementing its position in the Middle East and Africa. Notably, it became the first custodian to receive collateral custodian approval from the Taiwan Stock Exchange and launched RFI Agent Services in South Korea, helping offshore financial institutions to access local markets more efficiently.
“This award is a testament to the strength of our financing and securities services franchise and the trust our clients place in us,” says Margaret Harwood-Jones, global head, FSS at Standard Chartered. “Our differentiator lies in our unique footprint across dynamic, emerging markets, and our partnerships with fintech and other tech leaders to deliver innovations in digital asset custody and secure platforms that reduce risk and improve efficiency. We’re proud to support our clients with seamless financing and custody solutions, backed by the security, connectivity, and local expertise they need in an increasingly complex global environment.”
In digital assets, Standard Chartered has taken a pioneering role with operations already live in the UAE and Luxembourg and with plans for further expansion into Hong Kong and Singapore. “We are perhaps the only G-SIB currently offering these services under the bank name in multiple locations,” notes Jerry Zhang, global co-head of FI coverage at Standard Chartered, highlighting the bank’s unique position and credibility with fintech and crypto-native clients.
Regional strength and deep market roots
The bank’s strategy is underpinned by technology investments that deliver operational efficiency and client-centric innovation. From FX API solutions in South Korea and Indonesia to real-time trade tracking with SWIFT Securities View, Standard Chartered’s tech rollouts have been expansive. These enhancements resulted in a 49% reduction in client queries across 10 markets after the rollout of AccessFintech.
Additionally, Standard Chartered launched ViTAL – a distributed-ledger technology transfer agency platform – across six markets, including Hong Kong and UAE. In fund services, the bank expanded trustee mandates in Hong Kong and became the first to offer hedge fund trustee services in South Africa.
Standard Chartered’s collaborative model – engaging with local regulators, shaping market practices and delivering bespoke solutions – is central to its success
Standard Chartered’s strength lies in its unrivalled network across Asia, the Middle East and Africa – regions where it has operated for over a century. In Greater China and north Asia, it achieved 13% total asset growth, secured 58 new mandates in China alone and maintained a dominant 28% subcustody market share in Taiwan.
“Our FI business is deeply rooted in cross-border flows,” says Zhang. “Our FI income is largely network driven, connecting local clients to global markets. That’s our DNA”. In Hong Kong, Standard Chartered onboarded the first tokenised public retail fund and was appointed custodian for the eMPF platform. In South Korea, the bank’s trustee assets under trust rose by 32%, supported by innovations like the launch of same-day affirmation services for US trades from Singapore.
Talent and thought leadership
To support its scale and sophistication, Standard Chartered made strategic hires including a new global head of fund services and expanded its fund accounting workforce by 29%. The bank’s senior executives also continue to shape the industry through leadership roles in global organisations such as the International Securities Services Association and the Association for Financial Markets in Europe, and by contributing to major regulatory transitions, including the shift to T+1 and future T+0 settlement initiatives.
Standard Chartered’s collaborative model – engaging with local regulators, shaping market practices and delivering bespoke solutions – is central to its success. It is a trusted partner for global asset managers, fintechs, broker-dealers and institutional investors. This is evident in landmark mandates from JPMorgan, iFAST and Aditum Investment Management, and its role in pioneering the launch of Dubai International Financial Centre-domiciled public funds in the UAE.
In Zhang’s words: “We focus on how to collaborate, not just compete, to serve our clients in the real world.”
