April 2018

Global Custodian magazine recently presented Deutsche Bank with awards for Innovation in Market Collaboration, Best Custody Deal of the year and Quality of Personnel

The securities services industry has seen many innovations in the last few years, but it’s a culture of collaboration that has really turned the tide.  In the last year, much has changed in the way that innovation is delivered, starting with a cultural shift within organisations and an openness to collaborate with industry partners.

In recognising those firms that have excelled in collaborating to make a difference, Global Custodian magazine recently presented Deutsche Bank with Editors’ Choice awards for Innovation in Market Collaboration, Best Custody Deal of the year and Quality of Personnel in the Agent Bank Global Excellence awards.

The Best Custody Deal of the Year was a mandate granted to Deutsche Bank by State Street, marking a significant win for the bank’s TARGET2-Securities strategy. The multi-year T2S project has harmonised the cross-border settlement of securities to a single, central platform and was completed in 2017. In October 2017 State Street selected Deutsche Bank as its T2S custody partner for select markets. The bank is utilising Deutshe Bank’s Settlement Hub in Frankfurt to provide a full service custody solution in core T2S markets that will supplement State Street’s own direct connection. The Settlement Hub solution provides State Street with the in-market expertise they value while streamlining trade processing via a single legal and technical access point.

The Innovation in Market Collaboration award recognised the first and highly innovative partnership solution for TARGET2-Securities (T2S), involving Deutsche Bank, Euroclear and Northern Trust.

The collaboration is based on a new operating model in securities services, where the traditional value chain is delivered by the integration of multiple parties – a global custodian (Northern Trust), a Euroclear central securities depository (CSD) and Deutsche Bank as asset servicing agent - into a single service offering. The innovative solution, which was launched in January follows a change in the European settlement landscape in recent years. It follows an analysis of processing flows across core European markets and in-depth collaboration, when the solution entered live operations in the French market via Deutsche Bank’s Frankfurt hub. The bank will continue to replicate the product solution to other clients and markets via the Frankfurt hub. Read the latest press release about the innovative partnership solution for T2S here.

In the Global Excellence awards in the Agent Banks survey, Deutsche Bank was recognised for its quality of personnel. The Bank’s employees received extensive praise by clients in the developed and emerging markets surveys. Commenting on the service levels from the bank’s India franchise, one US asset manager said: “Their willingness to go above and beyond regular work hours to assist their international clients is top of the line.” In Turkey, clients praised the bank’s polite and proactive team and its market knowledge, while one European fund client dealing with the UAE team commented that, “The accuracy of settlement and the follow up by operations is excellent.” In Germany, Clients were positive about the bank’s timeliness and accuracy and good IT infrastructure. One client made specific reference to a Deutsche Bank employee stating “sometimes it is he who makes the difference.”

Graham Ray, Head of Product Management, Securities Services, Deutsche Bank, said all three awards were a glowing testimony to Deutsche Bank’s culture of collaboration to innovate and deliver excellence in service. “These awards demonstrate that we are thought leaders in our industry with highly committed and dedicated employees, who are willing to collaborate to deliver excellence in products and service to the benefit of our clients and the wider Securities Services industry.”

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