Sumitomo Trust QFII custody goes to Citi

Sumitomo Trust and Banking has named Citi Securities and Fund Services sole custodian for its new qualified foreign institutional investor (QFII) programme in China.Under the mandate, Citi will provide custody services including settlement and safekeeping of assets, corporate action processing, income collection, recordkeeping and consolidated reporting to Sumitomo Trust. It will also offer relationship management, implementation and customer service in both China and Japan. "As the f…