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Deutsche Bank HSBC
Deutsche Bank (Malaysia) Berhad, has almost doubled its
response base this year and in so doing has seen some improve-
ment in its scores over 2016. There is improvement in all service
categories with the exception of Operational Reporting, which is
still languishing in the low fours. The biggest leap is for Rela-
tionship Management and Client Service, up a full 1.24 points to
5.24. This is just shy of the market average, but in itself is consid-
ered a good score. Deutsche Bank, however, still has a way to go
to match the market averages in all categories, particularly in the
area of Operational Reporting mentioned above.
Client comments point to areas of strength, but also a num-
ber of service aspects that respondents feel need improving.
While praising the bank’s Reputation and Asset Safety, one asset
manager suggests that there is a discrepancy between the bank’s
relationship management capabilities (good) and its client ser-
vice (less good). Another suggests that response times to queries
could be improved.
On the plus side, one large asset manager highlights the “in
depth knowledge of the products and services offered” among
the Deutsche Bank team. Another describes the bank as, “Reli-
able and dependable. HSBC makes the cut this y ear accounting for some 6% of total
survey responses. Its scores are adequate without being exciting.
Six out of ten service categories score in the high fours – ‘Sat-
isfactory’ in overall terms, but below the cusp of ‘Good’ (5.00-
5.99). The bank’s highest scores are for Trustee and Administra-
tion Services and Asset Servicing. In both of these, it comes close
to matching the market average. Given the absence of historical
survey data for HSBC in the domestic custody market in Ma-
laysia, it is not possible to tell if this performance represents an
improvement over time or not.
The few client comments are equally split between identifying
strengths and pointing out areas for improvement. “Coverage,
experience and breadth of access,” are cited as positives by one
asset manager, who goes on, however, to say that “quality and
timeliness of valuation for 2017 seem to be impacted. Further
improvement required.”
Another points to trade settlement as a strength, but suggests
that client reporting could be improved. With a small response
base, it is perhaps unfair to draw anything other than tentative
conclusions and to await next year’s survey before making any
definitive judgements on HSBC’s performance.
TABLE 1: SERVICE AREA SCORES
TABLE 1: SERVICE AREA SCORES
Category 2017 2016 Difference Category 2017 2016 Difference
Relationship Management and Client Service 5.24 4.00 1.24 Relationship Management and Client Service 4.92 n/a n/a
Cost and Value Delivered 4.53 4.35 0.18 Cost and Value Delivered 4.92 n/a n/a
Settlement and Cash Management 4.84 4.44 0.40 Settlement and Cash Management 5.07 n/a n/a
Asset Servicing 4.96 4.60 0.36 Asset Servicing 5.32 n/a n/a
Special Operational Requirements 4.91 4.54 0.37 Special Operational Requirements 4.90 n/a n/a
Operational Reporting 4.23 4.37 -0.14 Operational Reporting 4.16 n/a n/a
Technology 4.61 4.12 0.49 Technology 5.20 n/a n/a
Fund and Unit Accounting and Valuation 5.02 4.81 0.21 Fund and Unit Accounting and Valuation 4.49 n/a n/a
Trustee and Administration Services 5.03 4.91 0.12 Trustee and Administration Services 5.32 n/a n/a
Reputation and Asset Safety 5.13 5.05 0.08 Reputation and Asset Safety 4.96 n/a n/a
OVERALL WEIGHTED AVERAGES 4.86 4.44 0.42 OVERALL WEIGHTED AVERAGES 4.95 n/a n/a
TABLE 2: DIFFERENCE WITH MARKET AVERAGE
TABLE 2: DIFFERENCE WITH MARKET AVERAGE
Relationship Management and Client Service -0.05 Relationship Management and Client Service -0.37
Cost and Value Delivered -0.47 Cost and Value Delivered -0.08
Settlement and Cash Management -0.38 Settlement and Cash Management -0.15
Asset Servicing -0.40 Asset Servicing -0.04
Special Operational Requirements -0.26 Special Operational Requirements -0.22
Operational Reporting -0.64 Operational Reporting -0.71
Technology -0.33 Technology 0.26
Fund and Unit Accounting and Valuation -0.09 Fund and Unit Accounting and Valuation -0.62
Trustee and Administration Services -0.30 Trustee and Administration Services -0.01
Reputation and Asset Safety -0.33 Reputation and Asset Safety -0.50
OVERALL WEIGHTED AVERAGES -0.33 OVERALL WEIGHTED AVERAGES -0.24
Summer 2017
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