HSBC Mauritius has retained the title of the ‘Best Sub-Custodian Bank’ for 2013-14 in the local market, according to the latest findings released under the Global Investor/IFS survey.
The strong performance of HSBC Mauritius stems both from the bank’s ability to deliver outstanding customer service, as well as in being among the pioneering banks to capitalise on the transformation of the Stock Exchange of Mauritius from a domestic focused exchange to an international multi-asset platform dealing in most major currencies.
For Shomika Luchmun, Senior Vice President and Head of HSBC Securities Services & Payments and Cash Management, being recognised as the best sub-custodian bank yet again is a source of pride.
Elaborating on the factors that have led to the bank’s success in the Global Investor rankings, he credits HSBC’s systems and technology, its global network coverage and the quality of customer service delivered by his team.
Alastair Bryce, CEO, HSBC Mauritius, adds, “Good customer service is the lifeblood of any business and at HSBC our ultimate aim is to serve our customers in such a way that they keep coming back to us, bearing in mind that we are always judged on what we do rather than what we say.”
At a group level, HSBC leads in 23 of the 29 markets in which the survey by the reputed financial magazine was conducted.
Global Investor/ISF is a flagship title of Euromoney Institutional Investor plc and has been covering asset management, asset servicing and securities finance since 1985.
Present in Mauritius since 1916, HSBC has two entities – a branch of the Hongkong and Shanghai Banking Corporation Limited and a local subsidiary, HSBC Bank (Mauritius) Limited. HSBC operates 11 retail branches offering a full-fledged range of retail banking and cards products.
HSBC was one of the first banks to set up an Offshore Banking Unit (OBU) in Mauritius in 1991, and has grown to be the largest one of its kind in Mauritius. The OBU’s capabilities have been recently enhanced with the opening of a new locally incorporated subsidiary, the HSBC Bank (Mauritius) Ltd (HBMU). Through the new subsidiary, HSBC is able to offer many of its global customers more sophisticated financial products and solutions.
Also, as one of the strongest financial organizations globally, HSBC is able to leverage on its global footprint to bring to the benefit of its clients its wide capabilities in terms of market risk management and product coverage. Present in more than 90 Treasury sites in more than 60 countries, HSBC is a leading global market maker with strong presence in the major financial centers.
Source: Company Website
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