Stanbic IBTC bags fourth custody award

STANBIC IBTC Bank has been named the “Best Sub-Custodian” in Nigeria for 2014, an affirmation of its expertise in the provision of custody services in the country.

 The award would be the fourth consecutive year the bank has won the award by the London-based Global Finance magazine.

  Describing the latest award as an inspiration to strive for even higher performance, the Chief Executive Officer, Stanbic IBTC Bank, Yinka Sanni, stated that the bank’s leadership of Nigeria’s custody sector, which it pioneered about 18 years ago, provides a further motivation to continue to redefine investor services in the country, while providing unrivaled services to its clientele.

  “We are very pleased with this recognition. That Stanbic IBTC Bank has won the award for four consecutive years demonstrates the expertise and dynamism we have applied in deepening investor services in Nigeria. 

  “With continued momentum in cross-border trading, there remains a growing need for excellent custody services in Africa and Nigeria in particular,” Sanni stated.

The award recognizes the important role sub-custodians play in the safekeeping of clients’ assets, such as stocks, treasury bills and bonds.   

  The selection of winners is done by Global Finance magazine’s editors and reporters, with input from expert sources, from among institutions that reliably provide the best custody services in local markets, regions and to global custodians. 

  The criteria used 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.

  The Head, Investor Services, Stanbic IBTC Bank, Segun Sanni, also described the award as “a call to keep renewing ourselves to deliver greater value to our clients and potential clients.” 

  As a member of the Standard Bank Group, Africa’s largest bank by assets and earnings, Segun said Stanbic IBTC will continue to leverage on the 151-year experience, expertise and strong financial clout of the financial powerhouse to deliver superior, sustainable shareholder value by serving the needs of its clientele.

 “The sub-custody market is in a state of flux, with new regulations to deal with and a changing landscape of market players,” the Publisher and Editorial Director of Global Finance, said Joseph Giarraputo, said.