British banking giant Standard Chartered has created a new financing and securities services unit to better align its offering in financing, custody and clearing.

The new unit has been created by merging Securities Services with Portfolio Risk Management in the Financial Markets business.

The Securities Services division is currently under transaction banking arm.

The new unit will have all the existing Securities Services activities including custody, clearing, fiduciary and fund services, and securities lending.

It will also include all Portfolio Risk Management activities such as prime services, money markets, central funding desk, credit valuation adjustment and the modelling and analytics group, the bank said.

Securities Services global head Margaret Harwood-Jones and Portfolio Risk Management global head Emmanuel Ramambason will co-head the new unit.

Financial Markets global head Roberto Hoornweg will supervise Margaret and Emmanuel.

Hoornweg said: “This combination will allow greater alignment of our Prime business within Portfolio Risk Management, and harmonise our offering in financing, custody and clearing, as well as fund services for our clients.

“It will also further enhance the synergy between Financial Markets and Transaction Banking within our Corporate, Commercial & Institutional Banking business, to ensure we are fully equipped, relevant, and best-placed to service our clients.”

The bank has been actively experimenting with new business models to meet the emerging needs of its clients.

Earlier this month, Standard Chartered launched a banking-as-a-service solution named nexus to offer a suite of private-label products and services to its clients.

Standard Chartered unveiled Mox virtual brand for Hong Kong, in partnership with PCCW, HKT and

Last month, Standard Chartered opens its first flagship International Banking and Priority Private centre.

In January, Standard Chartered invested in blockchain-based platform Contour and supply chain finance platform Linklogis.