HSBC earn six top ratings 10 January 2011London Reporter: Justin Lawson
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HSBC Securities Services (HSBC) was ranked fourth globally and earned six top ratings in Global Custodian magazine's annual survey of clients of the major global custodian banks, in which 665 responses were received from clients of the 10 banks that qualified for the survey.
HSBC earned top rated status in six of the ten categories, including the coveted "Global" category (achieved by only three other banks), and was awarded Commended status in three other categories. In addition, HSBC scored first in Europe, second in the Middle East, as well as second amongst Institutional Investors.
The editors of Global Custodian magazine provided positive feedback and client comments in their summary of HSBC's performance in the survey. They advised: “HSBC still shines brightest on the human side”. “‘Will go the extra mile for us’, writes a fund manager”. An institutional investor said: “I would recommend HSBC to any company”. They continued: “Size matters, particularly to fund managers whose investors love the credit. In a market obsessed with safety, a $2.5 trillion balance sheet is reassuring". In relation to HSBC's balance sheet strength one fund manager said that “HSBC would be the last one standing” and another added that the “Brand instils confidence in investor bases”.
Drew Douglas, Co-Head HSBC Securities Services commented: “We are very pleased with our results in Global Custodian magazine's 2010 Global Custody survey. The direction of our scores validates our focused investment on service quality and we are confident that, where our scores were lowest, we have scheduled development plans to continually improve in those areas. Further, we appreciate that our clients understand and value the strength of HSBC's balance sheet and global footprint in this time of constant change."
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