Deutsche Bank Tops Global Custodian Asia Awards

Deutsche Bank won four awards and was named Agent Bank of the Year: Overall at Global Custodian’s fourth annual Leaders in Custody Asia awards, held at Raffles Hotel in Singapore. The ceremony honored securities services providers across the Asia Pacific region.

Award winners were selected using Global Custodian’s agent bank surveys alongside editors’ choice, innovation and individual honors. Deutsche Bank also received recognition in the Emerging Markets category. BNP Paribas, BNY, HSBC, Mizuho, Standard Chartered and State Street each won three awards. DBS, ICBC and Northern Trust took two awards apiece.

In the Editors’ Choice segment, BNY won Global Custodian of the Year Asia. JP Morgan received Deal of the Year for its mandate with Singapore’s Income Insurance Limited. State Street was recognized for its asset servicing partnership with Daiwa and for its acquisition of Mizuho’s offshore securities services business; it also won ETF Administrator of the Year. Apex Group was named Fund Administrator of the Year for the APAC region. BBH won Fund Services Deal of the Year for work with ICBC UBS Asset Management. Proxymity was named Fintech of the Year.

Specialist agent bank honors went to Mizuho as Agent Bank of the Year: Major Markets and to Standard Chartered as Agent Bank of the Year: Frontier Markets. Northern Trust received awards for innovation and technology and was recognized for Excellence in Digital Asset Innovation. HSBC’s Orion initiative was named Digital Asset/DLT Initiative of the Year.

Global Custodian also identified best-in-class capabilities at the operating level. Standard Chartered’s Malaysia operation was recognized for account management. Deutsche Bank in China was cited for asset safety and risk management, ICBC in China for asset servicing, and Mizuho Bank in Japan for client service. MUFG received recognition for relationship management and BNP Paribas in India for technology. Country-level best custodian awards went to Deutsche Bank in China, DBS in Hong Kong and Singapore, BNP Paribas in India and Mizuho in Japan.

Innovation awards covered several projects: NSE Clearing for risk and resilience, BNY for AI in asset servicing, CITIC Securities for digital fund operations, SBI-SG for custody and fund services technology, and CCDC for collateral management. The Northern Trust Carbon Ecosystem was named a project to watch and the HKEX Bond Connect securities collateral initiative won Market Infrastructure Project of the Year.

Individual honors included the induction of Jason Rich of State Street and Vikram Kothari of NSE Clearing into Global Custodian’s Hall of Fame. Francois Verlaine of Standard Chartered was named Industry Person of the Year. A full list of winners was published by Global Custodian after the ceremony.