Global Custody Poll
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THE NEW-AGE ALL-SINGING ALL-DANCING CUSTODIAN
This page depicts the latest Asiamoney Global Custody Poll, produced in 2004. A completely new Asia custody survey is currently in development by Asiamoney.
Banks are striving to adapt their offerings to keep pace with the fast-changing marketplace for custodial services, write Pauline Loong and Andrew Peck.
INTRODUCTION
Custody, as with most other services provided by banks these days, is constantly re-inventing itself to keep up with the fast-changing marketplace.
In times past, the custodian provided a rather straightforward, if not simple, service - that of safekeeping and settlement. Today, custody can come with all the bells and whistles. Major global custodians cover every possible spectrum of investing. From compliance management to derivatives clearing, they have to walk two steps ahead of highly aware, increasingly cautious institutional investors and fund managers. And as markets become more global, services are increasingly specialized. More complex regulatory requirements require the input of local sub-custodians, offering opportunities for the man on the ground who understands the rules of the game on his home patch.
In this our 6th custody poll, we have expanded our survey and introduced a new category - the services of the sub-custodian. For the Asiamoney sub-custody poll results, click on 'Surveys Calendar' (in the menu available at both the top and bottom of this page).
Responses to our poll reveal a brave new world in custodial services, with plenty of frills and a lot in added benefits for clients. Among these benefits: performance measurement, compliance monitoring, risk management and securities lending.
Such services help reduce the third-party costs clients must pay and help amplify their portfolio returns. What were once considered additional frills are now an expected part of core custodian service.
METHODOLOGY
Click here to view methodology
RESULTS
This year State Street wins the crown for best global custodian in Asia-Pacific, taking the top slot from Citibank, which won the Asiamoney poll for the previous three years.
One reason for State Street’s strong showing this year is the bigger weighting given to respondents with a bigger chunk of assets under management (see Methodology, via above link). The change in weighting reflects input from the industry after widespread consultation on polling methods that best reflect market realities.
Overall Best Global Custodians
ASIA-PACIFIC REGION
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Rank
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Points
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1
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194.25
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2
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155.75
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3
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153.5
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4
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86.5
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5
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Northern Trust |
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37.5
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6
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24.25
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United States
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