SWFs, central banks to begin unbundling securities lending

The biggest institutional investors in Asia, including central banks and sovereign wealth funds (SWFs), are starting to unbundle securities lending from custody, creating a new business opportunity for some providers, says Paul Wilson, managing director for financing and markets products at JP Morgan in London. He is visiting institutional clients in Asia, Japan and Australia, and says the conversations are similar to those in the US and Europe several years ago. "Securities lending h…