AS Asian markets brace for a river of investment funds from the US and Europe, the custodians who ensure the deals go smoothly are rolling up their sleeves.
Hongkong and Shanghai Banking Corporation, Standard Chartered's Equitor division, and Citibank are preparing to take on the increased business - and each other.
In the process, they will strengthen Hong Kong's position as the leading Asian custodial centre outside of Japan.
Acting as guardian for shareholdings of clients has become a wonder business for banks. It provides a steady flow of fees, without tying up huge amounts of capital in loans, some of which inevitably go wrong.
Hong Kong has long been a key provider of custody services to local investors. But its growing role is as a provider of services to the global custodians - US and European houses who look after international funds.
The global custodians tap into local banks, which act as sub-custodians, become their agents, and their eyes and ears in their own markets.
Hong Kong's custodians have followed the demand from increasingly adventurous investors and moved far out into the region, from China and South Korea to Pakistan and Sri Lanka.