SYDNEY -- A showdown looms in the Australian global custody market as world leader Chase Manhattan Corp. takes on domestic leader State Street Australia Ltd., a unit of State Street Boston Corp.

Analysts said Chase would find it hard to compete with State Street, which is estimated to handle at least 80% of the $25 billion of Australian funds invested overseas.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.