Guardians of Growth: Nedbank’s Custody Services
Financial institutions around the world have become intricately woven into the fabric of everyday life, and amongst these, Nedbank Namibia stands tall. Particularly notable is their safe Custody Services, a fundamental component of the bank’s offering, bridging the past and the future in their approach to asset protection and growth.
At the helm of this business unit is Christine Carstens, the Manager of Investor Services at Nedbank Namibia, whose professional journey has led her to embrace the responsibility of safeguarding financial assets, helping to minimize the risks of theft or loss, and ultimately securing the financial future for numerous organisations and individuals.
Carstens shared that their clientèle consists mainly of investment advisors and financial institutions, including asset managers, who are compelled by the regulator to work through a custodian, such as Nedbank, for assets they manage on behalf of clients. “We hold these assets in physical or electronic form, and we also manage financial accounts, handle settlements, and deal with compliance and tax issues,” she explained.
The offering is comprehensive, extending beyond safekeeping. Nedbank Custody Services consists of two primary services namely, Safe Custodial Services and Trustee Services. These offerings include a variety of transactional and technologically advanced solutions styled to ensure efficiency and competitive pricing for both payments and the receipts of funds. Significantly, Nedbank’s Custody Services are not limited to institutional clients such as pension funds and assets management companies. They also cater to private wealth clients and organisations interested in acquiring shares or bonds. They facilitate client’s access to the financial ecosystem, thus enabling efficient capital deployment. Offering these wider services at competitive rates, Nedbank expands its reach and impact on the financial market.
On the journey towards digitalization, Carstens provided insights concerning future-focused investment solutions where she assessed that “with the implementation of Central Securities Depository in the Namibian Market, we foresee two evident benefits- the electronic settlement of trades, which currently is a manual process due to the physical market, and a reduction in the settlement cycle for local equity trades to T+3 from the current T+5 cycle.” This indicates a clear shift towards greater efficiency and speed in the transaction process, which in turn allows quicker reinvestment of assets and decreases counterparty risk.
“Custody is one of the key stakeholders for Corporate and Investment Banking clients and a major contributor towards the profits of the bank,” Carstens added, reiterating the department’s significant role within the large banking framework. Looking forward, Nedbank Custody Service is focused on continuing to innovate and evolve staying abreast of market trends, and offering client-centric services. This forward-thinking approach, combined with a steadfast commitment to maintaining high service standards, is what positions Nedbank as a preferred choice in the financial services market.
Through their robust and dynamic service offering, Nedbank’s Custody Services illustrates an enduring commitment to financial stability and future-focused investment solutions. They ensure that their clients from asset management firms to private wealth clients, can continue to trust in their ability to safeguard their assets both today and well into the future. Indeed, when it comes to financial safekeeping, Nedbank emerges as an institution that is much more than a bank, it is a guardian of growth.
