Awards for Excellence 2011: Best Global investor services house
The bank shows that in times of regulatory uncertainty, high levels of client service trump outright scale.
Best Global investor services house: Northern Trust
Also nominated: BNY Mellon and Citi
Custody banks are in the vanguard of the global battle for transparency as a way of combating investment risks. The regulatory challenges that are coursing through the industry are placing unprecedented pressures on investor services clients: hedge funds, private equity firms, boutique asset managers, pension funds and other asset owners.
These clients groups are facing new rules such as AIFMD, Ucits IV, Dodd-Frank, central clearing, tax changes and a host of other issues. For banks operating in this area, having a clear focus on delivering services to clients to help them make the transition to the new environment is a crucial determinant of success. Although other banks might have more assets under custody or even more absolute client numbers, Northern Trust again wins our award.
Measuring client satisfaction is an inexact science but Northern Trust has an approach to client service that puts it above its competitors. It has consistently come top of the R&M Consulting annual client satisfaction survey over the past 10 years.