In recognising the outstanding achievers at the Custody Risk Americas Awards 2014, it was a pleasure to congratulate, in the heart of New York, the winning companies because they have performed under pressure this past year.
Ever-greater regulatory requirements are being imposed on custodians, securities services companies and the funds industry. Meanwhile, pressure on their clients is being compounded by regulation around the world, leading them to increased outsourcing.
Twenty years ago, outsourcing was all about banks and financial institutions outsourcing custody. Fifteen years ago, it was the outsourcing of fund accounting and record-keeping, and 10 years ago, it was performance measurement. A few years ago, it evolved to looking increasingly at middle-office activities – everything from trade settlement to pricing, bill payment and investment manager reconciliations. The most recent trend, meanwhile, is in outsourced collateral management.
But, despite the challenges and strong competition, companies across the sector once again demonstrated the expertise and strength required by their clients when they most need it, investing in client servicing, technology and robust data management systems.
The Custody Risk Americas Awards are judged by senior industry professionals who know the business intimately, with many years’ experience working within the sector, so a very appreciative thank you is due to them for their diligent efforts in the judging process.
Also a big hand to our sponsors: BNP Paribas, Gemini Fund Services, Multifonds, Omgeo, RiskVal and State Street.
Finally, see our website for details of our European Awards and next year’s Americas Awards.
Editor, Custody Risk
Custody Risk has a rigorous application and judging process for its awards. Nominations opened at the beginning of January and comprehensive entry forms were completed and supported by testimonials from clients. All the entries were checked rigorously by the judges, who consider a wide range of factors including the strength of submissions, investment in staff, innovation, business performance and the level of client support. The judging panel also used its own knowledge of the market and Custody Risk’s research into new business and mandates awarded, achievements in innovation, response to new regulations and technology developed. Custody Risk reserves the right to add to the shortlist in categories. Co-ordinated by the Custody Risk team, the judges chose from the shortlist, published online in March, and then selected the winners, which were announced at the ceremony in April, when senior industry representatives and guests gathered at the Marriott Marquis in Times Square, New York, to celebrate another year of achievement.