[ S U R V E Y | A G E N T B A N K S I N M A J O R M A R K E T S ]
Italy
The Italian market sits comfortably at Good , with its overall rating up from last year . Changes to the operational process of the Italian CSD are being planned to start from 2027 with support for Swift 15022 and 20022 formats . Although the market average sits just below the global average , over half of the categories have seen an improvement over the last 12 months .
BNP Paribas Sitting comfortably at Good , Relationship Management ( 5.98 ) has the highest score this year for the custodian . Given BNP Paribas ’ multilingual service , and how it is currently “ digitalising service reviews , providing our clients with an efficient , client-centric and harmonised ,” a high score in this category may not be surprising . Clients are quick to praise the service they receive from BNP Paribas , with regular check-ins and updates appreciated in the comments , while more than one has referred to the custodian as “ best in class ”. Client Service follows in close second , rated 5.74 , with praise from clients specifically highlighting the “ excellent support before and during implementation of CSDR ”. Notably , BNP Paribas was announced in
July 2024 to be set to provide depositary bank services to EPPI , an Italian retirement scheme for the industrial sector , representing ¤ 2 billion in assets .
Intesa Sanpaolo With six of the 13 categories sitting in the Very Good range , there is plenty of positive takeaways for Intesa Sanpaolo . Client Service and Account Management have the joint highest score , reaching 6.48 . One respondent noted how “ the Client Service
and dedicated account officers are very supportive with their explanations and assistance in inquiries ” while the Account Management team are praised for being “ very competent with in-depth market knowledge ” and showing “ great care and attention to our needs ”. Service Innovation ( 6.19 ) saw the largest uptick in ratings from last year , with clients excited about the offer of “ alternative reporting available via ISP ’ s online tool ”.
Italy |
Italy 2024 |
Italy 2023 |
Global Average |
Difference to Global |
BNP |
Instesa |
Account Management |
5.78 |
5.74 |
5.83 |
-0.04 |
5.62 |
6.48 |
Asset Safety and risk management |
5.68 |
5.59 |
5.73 |
-0.05 |
5.61 |
6.09 |
Asset Servicing |
5.60 |
5.51 |
5.59 |
0.00 |
5.35 |
6.13 |
Cash Management and FX |
5.28 |
5.35 |
5.46 |
-0.18 |
5.16 |
5.66 |
Client Service |
5.89 |
5.81 |
5.84 |
0.06 |
5.74 |
6.48 |
Data Services |
5.39 |
5.42 |
5.44 |
-0.05 |
5.26 |
5.73 |
Service Innovation |
5.41 |
5.3 |
5.43 |
-0.03 |
5.05 |
6.19 |
Liquidity Management |
5.22 |
5.2 |
5.41 |
-0.19 |
5.21 |
5.32 |
Pricing |
5.05 |
5.19 |
5.20 |
-0.15 |
4.76 |
5.69 |
Regulation and Compliance |
5.45 |
5.53 |
5.57 |
-0.12 |
5.24 |
5.83 |
Relationship Management |
6.14 |
5.98 |
6.15 |
-0.01 |
5.98 |
6.46 |
Securities Lending |
4.89 |
5.08 |
5.17 |
-0.28 |
4.76 |
5.00 |
Technology |
5.28 |
5.18 |
5.33 |
-0.05 |
5.16 |
5.64 |
Average |
5.47 |
5.45 |
5.55 |
-0.08 |
5.30 |
5.90 |
Fall 2024 globalcustodian . com 65