Global Finance has named SEB banka the best provider of sub-custody services in Latvia

The international finance magazine Global Finance has named the world's best sub-custodian banks in 2019. SEB banka has been named the best bank in Latvia, Lithuania, Estonia and Sweden. Many of the leading foreign financial institutions that use sub-custody services provided by SEB in the relevant market had given their opinion on the banks of SEB Group.

Gatis Simsons, senior sub-custody services specialist, says:

“Our customers appreciate fast and accurate service that meets market requirements. For customers, critically important good customer service factors are the knowledge of the relevant securities market and the possibility of receiving timely information on changes in the market.

Last year, the Latvian market continued to work on the implementation of the options provided by T2S (TARGET2-Securities) and the requirements laid down in MIFID II, as well as on the adaptation thereof to our operating principles. In the near future, some adjustments to customer service will be brought about by the shareholders' rights regulation that will facilitate exercising of the shareholder’s rights, the identification of shareholders and the transfer of information.

We are pleased with the results of the evaluation by the international experts, which is a high acknowledgment of our work.”

Sub-custody services include the accounting for the securities acquired by the customer, the safe custody thereof, settlements, and the provision of securities transaction services ensuring an accurate and timely execution of the orders in connection with customer securities. Since 1987, the global financial magazine Global Finance has been determining the best providers of sub-custody services in each country, based on expert opinions about various sub-custodians - from brokers to global institutional securities managers.