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PLAIN AND STEADY
This year ’ s results from a larger response pool confirm our 2021 survey findings that custody clients are more or less content , if unenthused .
Last year we headlined our ABMM survey introduction with “ The thrill is gone ”, reflecting the fact that results had come down to earth after several years of rising scores . This year , with just over 1,000 validated responses , category scores seem to have settled at this lower level , reflecting a mixture of judgments of either ‘ Good ’ and ‘ Satisfactory ’; nothing higher or lower . As Table 1 shows , these scores are within a few basis points of last year ’ s at a category level . The order of appreciation also remains roughly the same . Table 2 indicates how overall scores are distributed across markets , with Japan ,
ICSDs and Switzerland topping the table in terms of client perceptions of overall efficiency . When consulting the survey results on the following pages , these two tables should help provide benchmarks against which category scores of individual providers can be judged . While this special Sibos edition reveals the individual category scores for providers across the globe ( See Methodology below for the criteria to be included ), subscribers to Global Custodian will be able to consult our assessments in more detail in the forthcoming Fall edition of the magazine .
Table 1 : Category 2022 2021 Difference
Relationship Management |
5.76 |
5.73 |
0.03 |
Account Management |
5.45 |
5.55 |
-0.10 |
Asset Safety and Risk Management |
5.33 |
5.49 |
-0.16 |
Client Service |
5.33 |
5.47 |
-0.14 |
Regulation and Compliance |
5.28 |
5.34 |
-0.06 |
Digitalisation and Innovation |
5.22 |
5.19 |
0.03 |
Data Services |
5.21 |
5.23 |
-0.02 |
Asset Servicing |
5.16 |
5.32 |
-0.16 |
Technology |
5.15 |
5.22 |
-0.07 |
Liquidity Management |
5.12 |
5.19 |
-0.07 |
Cash Management and FX |
5.11 |
5.32 |
-0.21 |
Securities Lending |
4.98 |
5.17 |
-0.19 |
Pricing |
4.90 |
5.02 |
-0.12 |
Overall average |
5.23 |
5.33 |
-0.10 |
Methodology The Global Custodian Agent Bank Surveys are designed to elicit the views and perceptions of cross-border investors about the post-trade services they receive .
The Agent Banks in Major Markets ( ABMM ) Survey focuses primarily on those markets categorised as developed by MSCI and S & P . We invite network managers and operations executives from leading global custodians , correspondent banks , brokers , infrastructure providers and asset managers to evaluate the performance of their agent banks .
The response pool is drawn from two sources . Those respondents who completed the survey in the previous year are invited to do so again , while service providers in the markets concerned are invited either to submit client lists for invitation or to approach those clients themselves .
Service providers are given controlled access to a back-end system to allow them to validate that the ratings they have received come from bona
Table 2 : Market
TOTAL
Japan 6.12 ICSD 5.70 Switzerland 5.62 Luxembourg 5.45 Hong Kong 5.26 Korea 5.25 Belgium 5.21 Canada 5.21 USA 5.17 Italy 5.14 Singapore 5.12 France 5.11 Israel 5.10 Spain 5.06 The Netherlands 5.06 Germany 5.05 New Zealand 5.04 Portugal 5.03 Nordics 4.94 Australia 4.92 Austria 4.88 UK 4.86 Ireland 4.74
fide clients . Any responses submitted by institutions that were not clients of the rated provider in the 12 months under review are removed . At the end of the collection process , Global Custodian does its own check . Completed online , the questionnaire included 13 service categories . A scorecard allowed respondents to rate each category on a seven-point scale from Unacceptable to Excellent . All subsequent questions were optional , allowing for supportive comment to explain rating decisions .
A minimum of 10 responses was required for a country rating to be published and eight responses for an individual provider rating . Responses to the rating questions were converted by the survey system into numbers . Responses were weighted by AUM . Readers wishing to subscribe to the magazine , either digitally or in print , should click
here .
For more information on our Research Plus range of analysis products , please contact beenish . hussain @ globalcustodian . com .
Fall 2022 globalcustodian . com 69