[ S U R V E Y | M U L T I - M A R K E T P R O V I D E R S ]
Deutsche Bank
In Asia , Deutsche Bank became the first custodian to roll out Proximity ’ s VCG proxy voting solution , while a tie-up with ascending fintech Saphyre saw the implementation of a new onboarding and maintenance platform for custody , broker trading and buy-side accounts – joining the likes of Northern Trust and Standard Chartered . Elsewhere , the servicer joined the boundary-pushing Project Guardian initiative in May , a collaborative tokenisation initiative established by the Monetary Authority of Singapore ( MAS ). The strategy at Deutsche Bank appears to be working under the steer of its leadership , with Global Custodian referring to the bank ’ s securities services story as ‘ one of renaissance ’ earlier this year , with multiple global custodian clients reportedly turning to the asset servicer – particularly across Asia . Sitting comfortably above the global average ( 5.55 ) with an overall rating of 5.86 , Deutsche Bank has seen a strong performance in 2024 . With the category
HSBC
HSBC is clearly refining its focus , having sold off hedge fund administration business to BNP Paribas . The firm is investing ( see Orion project ) and honing its focus on Asia . The strategy led to multiple milestones over the past 12 months . Some of its recent announcements include supporting Saudi Arabia-China ETF cross listing as asset servicer , with the asset servicer acting as the ETF partner for the CSOP Saudi Arabia ETF master fund in Hong Kong . The custodian also took part in multiple tokenisation initiatives across Singapore and Hong Kong , and facilitated a landmark securities transaction for Qatar Stock Exchange and Edaa Qatar . When assessing the bank ’ s performance in this year ’ s survey , scores for this year sit below the global average . Relationship Management ( 5.11 ) scored highest for the provider , followed by Asset Safety and ratings all within the Good ( 5.00 – 5.99 ) and Very Good ( 6.00 – 6.99 ) range , it is Relationship Management which has received the highest score at 6.32 . Also , of particular importance is that all except one category has beaten the global average , and even then , Liquidity Management
Risk Management ( 5.03 ) and Technology ( 5.03 ) which sit in joint second place . The data points to some improvement
( 5.39 ) sits only 2 basis points below the global average for this category . Given these impressive ratings , it will come as little surprise that just under half ( 46 %) of Deutsche Bank ’ s clients have rated the provider as Excellent or Very Good , with a further 23 % rating it as Good .
on the bank ’ s scores in 2023 , with over a fifth of collated scores sitting within the Excellent or Very Good range .
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