Deutsche Bank is sub-custodian in India for CIBC Oppenheimer

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Mumbai, Oct 30: Deutsche Bank has been appointed by Canadian Imperial Bank of Commerce (CIBC) Oppenheimer as its sub-custodian for The India Fund Inc. This is CIBC Oppenheimer’s first direct, local custodian appointment for their country fund. Chong Jin Leow, head of customer management for Global Securities Services, Asia-Pacific, said: “A domestic custodian relationship with the client allows us to better facilitate market interaction and reporting, and therefore, enhances information flow.”

Bryan McKigney, managing director, Asset Management Group, CIBC World Markets Corp, said: “Deutsche Bank is able to support all of our business needs and they are obviously committed to the local custody business.”