Lead Runner
Feb. 15 (LBO) – Deutsche Bank’s Colombo branch has retained the top spot for custodian services among four key foreign banks operating in Sri Lanka, according to a global custodian review of emerging markets
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The seventeenth global custodian survey, which covered 61 emerging markets, ranks agent banks based on client responses.
Respondents answer 48 questions divided into nine categories value and commitment; relationship management; reporting; corporate actions; proxy voting; cash and foreign exchange; safekeeping; settlement and technology.
The questionnaires are sent to local and foreign fund managers who currently use custodian services in each country.
Deutsche Bank secured its place for the second year running, followed by Standard Chartered Bank, Citigroup and HSBC Bank.
The German based Deutsche, managed to improve on its already astonishingly high scores of a year ago, the Global Custodian 2005 Review said.
“Excellent service from Deutsche Bank Colombo branch,” writes a client, and the scores certainly support that view, says the survey.
Apart from cash management r