Australia, with the proposed branch status giving the bank “more strings to our bow”.

BNY last year celebrated the 10th anniversary of its partnership in global custody with NAB Custody, the country’s largest master custodian. Sturdy said BNY would be looking to introduce some of its new technology in asset servicing in the region: “Most of our technology has been used in the

US and the growing hub in Europe,” he said. “We now have a head of technology based in

Singapore
and
we’ll
be building our regional technology,
it’s
coming very soon.”

Blackfriars
Asset Management,
which
has US$2.7 billion under management,
focuses
on global and emerging
market
equity and debt and global
fixed interest.