Standard Chartered wins the Triple A Best in Asset Servicing and Best Subcustodian - Global, at The Asset Triple A Sustainable Investing Awards for Institutional Investor, ETF, and Asset Servicing Providers 2022, which were revealed at the gala dinner at the Four Seasons in Hong Kong on the 27th of September. The bank displayed overall strength across the key markets during the review period despite the challenging conditions brought on by the pandemic and geopolitical developments.
Standard Chartered, Triple A Best in Asset Servicing, 2022
Among its major accomplishments, Standard Chartered successfully onboarded the State Street subcustody mandate, which covered Indonesia, Malaysia, and the Philippines, one of the most important industry wins that was onboarded during the year. This is particularly remarkable since global custodians rarely change their subcustodians.
Standard Chartered also expanded its presence across Asia-Pacific, the Middle East, and Africa, strengthened its digital capabilities, and invested in sustainability, among other endeavours, further enhancing its asset servicing capabilities.
HSBC Securities Services wins as Best Subcustodian, Overall, Best Fund Administrator, Retail Funds, and Best Fund Administrator, Alternatives, displaying its dominance in these businesses across almost all markets, including China, North Asia, South Asia, Asean and Australia, as well as the Middle East.
HSBC, Triple A Best Subcustodian - Overall, 2022
HSBC played a key role in influencing market change by providing valuable client feedback and ensuring markets are aligned with international best practices, ensuring market access, enhancing its digital services to central banks with a focus on digital currencies, easing foreign exchange rules, and providing new investment products.
HSBC wins a total of 30 country awards in subcustody and fund administration, the most by any subcustodian and fund administrator in this year’s awards.
BNP Paribas Securities Services is recognized as Best Custodian, Overall and Best Subcustodian - Broker-Dealer, displaying its domestic, regional, and global capabilities despite its relatively smaller size when compared with its peers.
BNP Paribas, Triple A Best Custodian - Overall, 2022
BNP Paribas grew its assets under management, expanded its businesses in India and China, as well as other major markets, and partnered with global financial institutions to expand it custody network and servicing capabilities. It is the bank to watch as it scales up in the coming years.
In the broker-dealer space, BNP Paribas continued to win significant and complex mandates and added additional business from existing clients.
Citi is recognized as Best Global Custodian - International Clients, for its strength in servicing clients based outside the region, having won the biggest share of the Blackrock ETF mandate in 2021 and becoming the first global custodian to launch an onshore securities fund services business in China.
Citi, Best Global Custodian - International Clients, 2022
BNY Mellon is Best Global Custodian-Asia-based clients, for retaining and winning the most number of institutional mandates in the Asia-Pacific, including Japan, Korea, Hong Kong and Southeast Asia, across a variety of client types including central banks, sovereign wealth funds, and non-profit organizations.
BNY Mellon, Triple A Best Global Custodian - Asia-based Clients, 2022
BNY Mellon also wins the Best in Collateral Management award, prevailing as the dominant player in this space despite market volatility that has made this business quite challenging. BNY Mellon’s APAC collateral management business has continued to perform strongly, with its initiatives in global collateral mobility, the use of ETFs as collateral, and promoting ESG in collateral management.
State Street is Best in Securities Lending for displaying its commitment to APAC clients through a suite of holistic securities financing solutions, product innovation, as well as unique and flexible solutions to help them achieve alpha and meet their financing objectives under difficult market conditions.
State Street, Triple A Best in Securities Lending, 2022
Deutsche Bank wins as Best Domestic Custodian-Overall, for continuing to be among the best players in servicing domestic institutions. Deutsche Bank displayed resilience in these challenging times by designing, building, and delivering superior solutions that met the varied needs of local markets.
Deutsche Bank, Triple A Best Domestic Custodian-Overall, 2022
For the complete list of winners, please click here.