DBS Bank crowned best Singapore subcustodian bank

But StanChart rules Asia-Pacific region.

In a release, Global Finance magazine has unveiled its eleventh annual ranking of the “Best Subcustodians,” anointing DBS Bank as the best subcustodian bank for Singapore in 2013. But when expanding the scope to the greater Asia-Pacific region, Standard Chartered was deemed best in providing subcustodian services.

Global Finance editors and reporters, with input from expert sources, selected the winners from the institutions that reliably provide the best services in local markets and regions to global custodians.

"Our criteria included customer relations, quality of service, competitive pricing, smooth handling of exception items, technology platforms, post-settlement operations, business continuity plans and knowledge of local regulations and practices," said Global Finance.

“The subcustody market is in a state of flux, with new regulations to deal with and a changing landscape of market players," said Joseph Giarraputo, publisher and editorial director of Global Finance.

“Subcustodians are key to the safekeeping of client assets. With these awards we evaluate those banks that do the best job of asset servicing and protection in highly complex global markets.”

Below are the rest of the regional winners:

North America - Citi
Western Europe - BNP Paribas
Nordic Region - SEB
Central & Eastern Europe - UniCredit
Asia-Pacific - Standard Chartered
Latin America - Citi
Caribbean - Scotiabank
Middle East - HSBC
Africa Standard Chartered