State Street has promoted William Han to head of agency lending in Asia.
In his new role, Han manages State Street's client and agency securities lending product relationships, as well as new business acquisition activities, in the Asia (excluding Japan) region.
Han previously led client sales and relationship management for State Street's agency securities lending solution in Southeast Asia.
He has worked at State Street since 2003.
State Street earned securities finance revenue of $179 million in Q2 thanks to a boost at the bank in enhanced custody, as its assets under custody and administration exceeded $31 trillion for the first time.
Securities finance revenue was up significantly on Q1 2017’s $133 million and Q2 2016’s $156 million, reflecting higher revenue from, and growth in, enhanced custody.
Assets under custody and administration at State Street reached $31.04 trillion in Q2 2017, surpassing Q1 2017’s $29.83 trillion and Q2 2016’s $27.79 trillion.
