[ 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 ] score , while Cash Management and FX ( 6.19 ) has seen the largest annual shift – pushing this category into the Very Good range . Looking ahead this provider says it is looking to continue to provide “ invaluable support , established trust , and strong partnerships ”.
Deutsche Bank This is the first time Deutsche Bank is making an appearance in the Singapore section of this survey , and the provider has entered with quite the splash . Scoring an overall rating of 6.16 , nearly every category scored above 6.00 - with the exception of Account Management , which scored 5.83 ( in line with the global average ) and Liquidity Management ( 5.98 ). Deutsche Bank is one of the custodians working with the Monetary Authority of Singapore ’ s ( MAS ) on Project Guardian , a collaborative initiative between policymakers and the financial industry to enhance liquidity and efficiency of financial markets through asset tokenisation . In addition , Deutsche Bank also rolled out Proxymity ’ s Vote Connect Global ( VCG ) product in Singapore this year . Commenting on this expansion of its partnership with Proxymity the bank commented that it hoped the introduction will “ transform its post-trade services , and our partnership with Proxymity ” stating that the “ innovative technologies enables us to craft the latest and best in class service offerings for our clients .”
Standard Chartered Bank Back once again , SCB has made quite the shift since 2023 . Sitting at Very Good , with an overall average score of 6.08 ,
Deutsche Bank Standard Chartered Bank UBS 5.83 6.42 5.90 6.33 6.32 5.63 6.33 6.23 5.57 5.85 5.88 5.57 6.48 6.31 5.88 6.08 6.12 5.24 6.21 5.93 5.26 5.98 5.91 5.77 6.16 6.00 5.18 6.15 5.99 5.50 6.54 6.44 6.60 6.08 5.70 3.45 6.06 5.84 5.56 6.16 6.08 5.47
across every category there has been an uptick in ratings over the last 12 months . Most impressive is its Pricing score this year . A category which is traditionally one of the lower scorers , this year SCB bucks the trend with a year-on-year increase of 1.20 decimal points to move into the Very Good range – quite an impressive shift , and according to their clients- due to its competitive rates . Even Regulation and Compliance which has had the smallest shift , has moved up 0.69 , sitting at 5.99 , with clients regarding SCB as “ one of the most compliant banks out there ”.
UBS UBS has seen an improvement in its average score from last year , with Relationship Management , Liquidity Management and Account Management all beating the market average . This will come as little surprise , with clients quick to praise UBS for its responsiveness and how it is “ always keen to resolve issues to our best satisfaction ”. Relationship Management is in the Very Good camp ( 6.60 ), with one client highlighting that , despite the size of UBS , this does not impact its attention to each client any less , with one manager highlighted as being a “ performant person working closely with their clients ”. Meanwhile Pricing ( 5.18 ) has seen the largest annual shift , increasing 0.47 due to the bank ’ s competitive rates .
Fall 2024 globalcustodian . com 77