JP Morgan and Pictet were the stand-out performers in the Global Investor Global Custody survey 2020.

JP Morgan won the coveted weighted category for 2020, marking the second year of success for the firm. The US bank had the highest average score of the various firms that qualified in all three regions of EMEA, the Americas and Asia.

JP Morgan’s success was due to a strong performance in EMEA, where it came second, and in the Americas where the bank won that region comfortably. The US bank also performed well in Asia where it came fourth.

Pictet followed last year’s success in the unweighted lists, which give equal important to all clients, with another strong performance in 2020, with the highest global total and average based on raw data as well as top spots in EMEA and the Americas. Pictet cleaned up in the service categories survey, claiming top prize in 13 sections using unweighted data.

HSBC improved significantly its score in EMEA to 6.99 from 6.59 last year in the overall weighted group to win that category and came top in the Asia Pacific region in the overall weighted list with 7.09. The British banking group recorded a global total (comprising its scores in EMEA and Asia Pacific) of 14.08 and an average of 7.05, which was the top average in the list.

HSBC came top in the weighted cash management, client services, corporate actions, Covid crisis management, innovation and technology investment, network, performance measurement, risk management and safety of client assets lists.

BNY Mellon was second in the overall weighted category when ranked against other firms that qualified in each of the three regions. This performance was linked to solid scores across the regions. BNY Mellon came fourth in EMEA, second in Americas and joint fourth in Asia.

Citigroup showed strong improvements in the overall weighted section, boosting its scores in EMEA and Asia Pacific, while Northern Trust and BNP Paribas returned strong performances in Asia Pacific. RBC Investor & Treasury Services continued to excel in its service of small-to-medium clients, which was reflected in its unweighted scores.

To download the Global Custody 2020 Survey, please click here.