R & M’s latest Fund Accounting and Administration Survey(FAA) survey, which tracks the performance of banks servicing the 3 trillion UK retail and institutional investment management market, has seen HSBC come first for the third consecutive year.
The rankings of Mellon and BNP Paribas have fallen since the previous survey, with scores falling predominantly in core fund accounting and administration.
The survey reports that there were some concerns expressed about the speed of error resolution. No clients indicated that they thought overall service levels had declined year on year for these providers so results may reflect structural transition during a period of strong growth.