Josef Sheehama | Feb 8, 2024 | 0
Standard Bank clinches Global Finance award
Standard Bank Namibia was recently awarded the Global Finance award for Best Subcustodian Bank in Namibia in 2016, for the third consecutive time since 2014.
“We are extremely proud of this achievement. For the past 15 to 20 years Standard Bank has been the leading provider of custody and related services in the Namibian market. Our business is the largest custodian in the Namibian market and boasts various product offerings under our Investor Services umbrella,” said Corny Zaaruka, Head: Investor Services at Standard Bank.
According to Zaaruka these leading services are expertly delivered by an experienced team of custody professionals, who have a detailed understanding of the challenges and opportunities facing our diverse client base.
“We develop leading services to meet client need. Standard Bank’s investment administration product offering is aligned to corporate governance trends and the increasing requirements from pension fund trustees and fund administrators for independent investment accounting and consolidated reporting,” she said.
“Through securities lending, we lend shares or bonds from an investor’s portfolio to meet the temporary needs of other parties, typically dealers who need securities to support their trading activities,” she added.
Zaaruka said Standard Bank Namibia is also the leading provider of unit trust administration services to unit trust funds. “Our automated trustee administration system mirrors the fund accounting records of the management companies, providing daily feedback to them to ensure compliance with the Act and Deeds, together with details of any breaches,” she added.
“We leverage the advanced technology that exists in the Group Custody business to enhance service delivery, innovate across our service offering and reduce operational risk. Our Custody system is fully SWIFT compliant. Through our extensive Standard Bank Group footprints in Africa, we are able to connect our clients to the African markets,” she said.
Furthermore, according to Zaaruka, through their alliance with The Bank of New York Mellon, they provide domestic institutional clients with access to favourable tiered pricing structures and coverage in over 100 global markets.