Northern Trust and Taipei-based Bank of Taiwan will collaborate in offering institutional investors in Taiwan asset servicing and global custody services.
A news release Friday sent out under both firm's names said the service offering would combine the local expertise of Bank of Taiwan, a government-owned firm but distinct from Taiwan's central bank, with Northern Trust's global custody and asset servicing capabilities.
Nicola Murray, a London-based spokeswoman for Northern Trust, declined to give any further details. Jih-Chu Lee, the Bank of Taiwan's chairwoman, and William Mak, head of the Asia-Pacific region for Northern Trust, couldn't be reached for comment.
The news release said under a memorandum of understanding, Northern Trust “will provide offshore global custody and asset servicing solutions for select institutional and governmental clients in Taiwan.” Ms. Murray declined to provide any details.
