Here's Where There's Hiring Going On in Global Custody

Given the uptick in assets under custody at many banks and asset management firms, it's no surprise that the number of global custody and clearing positions is growing. As departments look to expand, the jobs most in demand are investment fund product managers, tax and legal support people, account on-boarding and setup pros, and relationship managers.

Spots are opening at JPMorgan in New York, especially in its Worldwide Securities Services division. The firm is in the process of retooling its global custody and global clearance operations. Word is of hiring at BNY Mellon and Northern Trust, as well.

Meanwhile, HSBC's launched HSBC Amanah Securities Services, a global Islamic financial services group that has Shariah compliant securities services. Regional expertise and sector experience is needed for the senior and seasoned positions available there. A team management background is essential.

As global banks continue to make moves into financial services in the Far East, future hiring is expected to come in Singapore, Thailand and Hong Kong. HSBC Private Bank predicts half of its assets under management will come from Asia during the next five years.

One big sign that global custody and clearing services are heating up: Announcements of senior level hires are coming fast and furious. HSBC Securities Services has picked an insider, John van Verre, as head of global custody. Poaching of seasoned sector pros is also pretty routine. BNY Mellon Asset Servicing recently appointed former Northern Trust exec Sue Baines as Head of Sales for Europe, Middle East & Africa.