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Across the Middle East , two regional providers , HSBC and Standard Chartered , receive the most reviews , while Bank of Jordan , Attijariwafa Bank , Citi , Société Générale ( SGSS ) and Union Internationale de Banques Tunisian ( UIB ) also record responses in specific markets . The battle for market share between regional and single market sub-custodians seems very much alive .

Taken as a whole , the region has recorded significant improvements in its scores year on year , particularly in the areas of Technology and Asset Servicing . The former has jumped from being considered Very Weak ( 2.00-2.99 ) to Good ( 5.00-5.99 ), while the latter has risen from Weak ( 3.00-3.99 ) to the upper end of the Good Range .

Standard Chartered ’ s strongest category scores are for Relationship Management ( 6.40 ) and Asset Servicing ( 6.20 ), while its weakest is , not surprisingly , for Pricing , though even here it is considered Satisfactory . HSBC ’ s strong suits meanwhile appear to be Asset Servicing and Regulation and Compliance ( 5.44 apiece ), while Risk Management and Technology scores are somewhat lacklustre , both scoring 4.33 – the mid-range of Satisfactory . Client comments encompass the performance of some of the smaller providers . Bank of Jordan , for example , is described by one client based in UAE as “ always responsive and their relationship manager is very supportive .” The same client notes that “ The technology Bank of Jordan has provided is excellent and has remained stable through a major technology upgrade .” In Morocco , one custodian describes SGSS as going “ the extra mile to provide their service ” and as “ very helpful if exceptions are required .”

Regional scores

Middle East and North Africa

Previous year

Account Management 5.78 4.49 1.29 Asset Safety 5.83 4.61 1.22 Asset Servicing 5.91 3.90 2.01 Cash Management and FX 5.47 5.05 0.42 Client Service 5.79 4.98 0.81 Liquidity Management 5.82 5.10 0.72 Pricing 5.05 4.54 0.51 Regulation and Compliance 5.59 4.62 0.97 Relationship Management 5.88 4.14 1.74 Risk Management 5.35 4.70 0.65 Technology 5.16 2.46 2.70

Market scores Jordan Morocco Account Management 6.17 ( 88 %) 5.83 ( 83 %) Asset Safety 6.17 ( 88 %) 5.83 ( 83 %) Asset Servicing 6.17 ( 88 %) 6.00 ( 86 %) Cash Management and FX 6.00 ( 86 %) 5.20 ( 74 %) Client Service 6.00 ( 86 %) 6.14 ( 88 %) Liquidity Management 6.40 ( 91 %) 5.00 ( 71 %) Pricing 5.67 ( 81 %) 3.33 ( 48 %) Regulation and Compliance 6.17 ( 88 %) 5.20 ( 74 %) Relationship Management 6.33 ( 91 %) 6.14 ( 88 %) Risk Management 6.17 ( 88 %) 5.60 ( 80 %) Technology 5.83 ( 83 %) 5.00 ( 71 %)

Difference

62 Global Custodian Spring 2021