State Street, Deutsche see sharp increase in fund-services business

Securities services providers say they have seen a surge of new business over the past few months, particularly in Asia -- as some market participants had predicted. State Street is gaining a new client every week for its compliance services worldwide, while Deutsche Bank recently experienced a bottleneck of new business in Asia, almost having to put some potential clients on hold. Many in the industry -- including such heavyweights as Chris Ryan of Citi -- say there has been a fundam…