News

Korean pension giant outsources middle office

OutsourcingThe National Pension Service (NPS) of Korea has chosen State Street to provide back and middle-office outsourcing services. The pension scheme, believed to be the world’s third largest, already used State Street for back-office services such as custody, fund accounting, performance and analytics, mandate compliance and securities lending services. The decision to include services such as Investment Book of Record (IBOR) record keeping, transaction management and trade processing services to all the fund’s overseas investments marks the first time NPS has outsourced middle-office functions. “This significant decision to combine middle-office and back-office operations will improve straight-through processing and data integration, which will reduce risk and increase speed,” said Ian Martin, head of global services and global exchange, Asia-Pacific, State Street. In a separate development, State Street has appointed Qi Wang, formerly of EDHEC Infra, to the newly created role of head of research at State Street Associates, the company academic affiliate. She is based in Singapore. ©2018 funds global asia

Executive Interviews

Interview: Money needs a place to go

Mar 11, 2019

Peng Fei, chief investment officer at Wanwei Asset Management, tells Romil Patel about allocating capital across risk factors when asset performance is uncertain and unpredictable.

INTERVIEW: Giving peace a chance

Jan 11, 2019

As US-China tensions escalated in 2018, the leaders of the two economies met in Buenos Aires to agree a truce. Aidan Yao, senior emerging Asia economist at Axa Investment Managers, talks to Romil...

Roundtables

Singapore roundtable: A money magnet

Mar 11, 2019

Our panel discussed why the Singapore Variable Capital Company makes them bullish, what gives the onshore jurisdiction an offshore feel and “blood on the streets” from China’s slowdown. Chaired by Romil Patel in Singapore.

HONG KONG ROUNDTABLE: A sunny picture

Jan 11, 2019

Changes to regulation, US-Sino trade tensions and further steps by China to open its capital markets were some of the topics discussed by our panel. Chaired by Romil Patel in Hong Kong.