The results of the annual Global Custodian magazine survey of the clients of agent banks in emerging markets are published today.
The survey, which celebrates its 20th anniversary this year, is based on analysis of more than 4,430 authenticated responses from the clearing and custody clients of banks in 64 emerging markets.
Agent banks are eligible for either Top Rated or Commended status. To secure either of these ratings, banks are assessed by clients on 63 questions divided into 11 separate service areas on a scoring scale ranging from 1 (unacceptable) to 7 (excellent).
The scores are weighted, averaged and compared to decide which agent banks are superior to global benchmarks. Any bank receiving an overall weighted average score superior to the global weighted average score is awarded Top Rated status, while those on the rise or maintaining a high standard of service receive Commended status. They can secure either type of rating from three different classes of client:
Leading Clients: This is the most prestigious rating, based on scores from a select group of major global custodian banks and global investment banksCross-Border Non-Affiliated Clients: The traditional rating, in which providers are ranked by international clients that are not part of the same groupDomestic Clients: A rating based on scores given by clients, including affiliated clients, based in the same market as the agent bank they are rating
Banks with regional or multi-market networks are also eligible for Top Rated or Commended status in five regions (Americas and Caribbean, Asia, Central and Eastern Europe, Middle East and North Africa, Sub-Saharan Africa) and on a Global scale.