OCBC sets up securities financing unit for institutional investors
It will create opportunities for these customers to earn fee income by lending out their idle securities, says lender
OCBC has set up a dedicated securities financing unit for its institutional investors, under its global markets division.
The unit will mobilise lendable securities from customers across OCBC and subsidiaries OCBC Securities, Bank of Singapore and Great Eastern. These securities include equities and fixed income.
This will meet the growing global demand for securities financing, while creating opportunities for these customers to earn fee income by lending out their idle securities, the bank said in a statement on Wednesday (Jan 21).
The team will be led by Jansen Chua, who joined OCBC on Jan 2 as head of securities finance.
He reports to Kenneth Lai, OCBC’s head of global markets.
Chua joined from State Street Bank & Trust Company, where he was senior managing director and head of financing solutions for Asia-Pacific.
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His expertise lies in securities services, securities finance and prime brokerage, with over 25 years of global experience across the US, Europe, the Middle East and Africa region and Asia-Pacific, the bank said.
Lai noted increasing demand from the bank’s institutional investors for securities financing.
He said: “The ability to access liquidity and deploy capital efficiently has become critical, especially in the context of elevated market volatility.”
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Shares of OCBC were up 0.1 per cent at S$20.38 as at the midday break on Wednesday.
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Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.
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