JP Morgan topped the R&M Trustee & Depositary Survey for 2012 with HSBC slipping to second place. BNY Mellon and State Street failed to receive enough responses to qualify for inclusion.
“The table shows the providers falling into two distinct groups, the first three gaining high scores, there then being a gap to RBS (or NatWest as it is now, the business having been recently transferred) and BNYM”, said Richard Hogsflesh of R & M Surveys. “Over 80% of RBS’ clients indicated that service levels have remained the same over the last 12 months but for all the others between 1/3rd and 2/3rd of respondents said that service levels have improved.”
A total of 60 UK fund managers responded to the survey that ran during September and October 2012.