Industry fails quality test

Only two banks post notable gains in R&M survey

As an annual gauge of the health of the global custody industry, this year's R&M Consultants survey makes worrying reading. For the first time since 2001, the average score for service awarded to global custodians by their clients has not improved – staying flat at 5.56, the same as last year.

While last year 12 out of 14 banks raised their scores – most by a considerable margin – this year only Northern Trust and HSBC posted notable gains. By contrast, six banks saw their scores decline.

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