“State Street Bank awarded the rating score ‘ excellent custodian bank rating by TELOS and coming Alpha – State Street Bank awarded the rating score excellent” State Street Bank GmbH joins in the provider marked with a custodian bank rating in Germany. The companies for TELOS and be alpha institutional Consulting GmbH certify the Custodian Bank and the custody of the State Sreet banking excellence “with a rating score of”1”. The custodian bank rating is an in-depth analysis and assessment of the institutional Wertpapiergeschaftes. For customer groups like insurance companies, corporations, pension funds, pension funds, foundations or financial services plays an increasingly important role in the management of their assets performance, as well as the services of custodians together with Custodygeschaft. Divided into the areas of support, custody and processing, fund accounting, reporting, IT and sales were of TELOS and coming Alpha all processes at the State Street Bank analyzed and evaluated.
Result is that the State Street Bank one of the leading European suppliers in the Custodian Bank and Custodygeschaft. In Germany, State Street manages approximately EUR 149 billion in funds and has by far the largest market share. The custodian bank rating ensures transparency in the cluttered market of custodian banks. It allows to cut through tendering procedures and find a direct way to the appropriate provider of custody services Bank institutional investors.”Clemens Schuerhoff, Managing Director of advent Alpha explains. Due to the changing market environment, as well as a significant increase in the complexity of the Wertpapiergeschaftes, the selection is a suitable custodian key success factor of institutional asset management. Dr.
Frank Kaddi Rahman, Managing Director of the rating agency TELOS, characterized the market: a few years ago, the custodian bank business led a shadowy existence, today it is a very important building block in the value creation process of management institutional Portfolio. We see therefore a high awareness of the results of the custodian bank ratings.” Custodian Bank ratings are introduced in 2008 in the German market. Meanwhile, three addresses were evaluated by TELOS and coming alpha and with another one located in the advanced stage of the decision. Altogether, there are around 60 custodian banks in Germany, where only one-third is active and positioned at the market open.