First person: The challenge facing the banking industry
Ulf Norén, global head of sub-custody at SEB, says banking is facing its most challenging time since he began working in the industry
For 28 years I have been working within the custody industry. Over that time, there have been many challenges facing the industry; among them the dematerialisation of securities, the introduction of Swift as an important tool, explosive growth in cross-border activity and the emergence of remote membership arrangements, to mention just a few.
I cannot, however, remember a point in time where the general outlook has been more challenging than it is now. In the aftermath of the credit crunch, the
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