DnB Nor has the very best custody services

The magazine, Global Custodian, has ranked DnB NOR Securities Services as the best provider in the Norwegian market. “Now we are back at the top again, where we belong,” says a pleased Bente Iren Hoem, head of Global Relations and Network.

This year, DnB NOR has thus regained its position as the top provider of sub-custody services in the Norwegian securities market. DnB NOR also achieved top ranking in the categories most satisfied leading clients and overall customer satisfaction among all types of clients.

Bente Iren Hoem, head of Global Relations and Network is pleased with the top ranking from the Global Custodian magazine: “We are back where we were before the merger – at the top. The fact that we were also rated best on the overall level, means that we are doing good work for all our customers, including the smaller ones. In addition, we have a new custody platform. Though some types of clients have not been converted to the new platform, our clients have picked up on the fact that we are investing in a new system,” says Hoem.

Fierce competition

“Competition from other Nordic banks is quite fierce in this market. Being the clear leader in the Norwegian market is thus very important for DnB NOR,” says Knut Haugan, head of Investor Services, Foreign Clients.

The ranking is based on questionnaire where clients are asked to answer 60 questions covering 11 categories. The clients rate their providers with respect to everything from customer service and transaction processing to tax deductions and systems. DnB NOR was rated best in ten of the 11 categories.

In its comments on the rating, the Global Custodian jury writes that it is an amazing feat on the part of DnB NOR to achieve such a strong increase in customer satisfaction among leading clients in all service areas in a market where stock market values were halved in 2008.

What is custody?

Custody, or the custodian role, is about making sure all securities transactions are settled at the right time in the right manner. It also involves safekeeping of the customer’s assets and ensuring that their rights in relation to the securities are observed.

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