Sovereign Wealth: Stanbic IBTC joins JP Morgan as NSIA Custodian

Posted by News Express | 31 August 2013 | 3,326 times

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Stanbic IBTC is to work as local custodian of the Nigeria Sovereign Investment Authority (NSIA), it has been announced.

“Stanbic IBTC’s custody team will work alongside JP Morgan, NSIA’s global custodian,” NSIA said late yesterday in a statement issued in Abuja, capital of Nigeria.

“Stanbic IBTC was chosen due to its experience as a provider of integrated financial services including custody, asset management, corporate banking and risk products and services, amongst others. NSIA welcomes this new relationship with Stanbic IBTC in fulfillment of its unique mandate,” the statement said.

News Express reports that this is the second strategic appointment made by NSIA within a week. The Authority had on August 28 announced the appointment of Goldman Sachs, Credit Suisse and UBS to manage its Stabilization Fund.

Photo: NSIA MD/CEO, Mr. Uche Orji.


Source: News Express

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