The survey measures the reliability of custody services provided in local markets and regions to global custodians.

Sub-custodians play a critical role in safekeeping client assets; SABB Securities, a subsidiary of SABB and an associate of HSBC Group provides customers tailored domestic and international equity brokerage services, custody services, securities and clearance services in Saudi Arabia.

SABB Managing Director David Dew said:” We take pride in receiving the award of best sub-custodian for the fifth time as a testimonial to the services we provide in Saudi Arabia, and we are pleased that our clients have expressed the positive experiences they had from dealing with SABB Securities.”

Joseph Giarraputo, publisher of Global Finances, said: “Sub-custodians provide the specialized services that make cross-border investing possible. We have identified those banks that do the best job of providing the high-quality services, advice and assistance that today’s increasingly sophisticated customers have come to expect.”

The annual survey, now in its eighth year, solicits feedback from Global Finance editors, reporters and other expert sources such as analysts, ratings agencies, consultants, customers and others involved in the industry to assess customer relations, quality of service, competitive pricing, technology platforms, smooth handling of exception items, post-settlement operations, business continuity plans and knowledge of local regulations and practices.

The global ratings included key banking and financial institutions operating in nine major regions in the world covering 65 countries in nine regions, and involve a series of advanced evaluation criteria addressing the volume of equities operations, market share, extent of coverage, customer service excellence, and the quality of technology used to provide the service