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July 2, 2008

Standard Bank offers custody services in Mauritius

by Richard Kilner

Story link: Standard Bank offers custody services in Mauritius

The corporate and investment banking division of South African firm Standard Bank has expanded its geographical reach by opening a custody service in Mauritius.

The move has been made due to an increasing interest amongst foreign investors in the Mauritian market, combined with growing investment activity on a local level.

Custody services will initially be provided to local institutional investors, with foreign investors being offered sub custody services.

Mark Kerns, managing director and worldwide leader of Standard Bank’s Investor Services, Corporate and Investment Banking, has stated that the firm views Mauritius as a strategic location.

Kerns went on to say that with the move into Mauritius the firm now offers custody services to 11 sub-Saharan markets, with Uganda, Malawi and now Mauritius being added in the last nine months alone.

 

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