FSDH Merchant Bank has launched a financial service product, Custody Services offering for investors, to provide safekeeping of financial assets.
Mrs Bukola Smith, the Managing Director, FSDH Merchant Bank, said in a statement on Monday in Lagos that the launch was part of the FSDH Group’s plan to meet investors’ needs and cover their end-to-end transactions.
She said the launch would further showcase FSDH’s years of expertise and experience within the financial services sector.
“Our unique proposition includes the use of technology to provide enhanced service delivery, assets servicing, and proffer sophisticated solutions to customer’s banking and financial service’s needs.
“Our competitive pricing model and global reach will also enable us to act as sub-custodians to global custodian banks and engage directly with foreign portfolio investors and fund managers in the market and those looking to come into the country.
“This function is performed through FSDH Nominees, a nominee vehicle for holding clients’ assets separate from the bank’s proprietary assets. With this licence, our clients will benefit from our focus on excellent pre and post-trading services.
“We can now offer both our local and international clients superior end-to-end service experience by supporting them at every stage of the investment cycle, leveraging the capabilities within the FSDH Group and our excellent track record in the areas of investment banking, corporate banking, asset management, and wealth management,” Smith said.
She said FSDH would continue to deepen its business lines, strengthen offerings and deliver on its promise to play a key role in the success journey of her clients.
‘’As we offer a one-stop array of financial services to our customers; we are now able to deliver efficient end-to-end of their transaction life cycle and we offer years of experience and expertise within the money market, capital market, corporate and transaction banking space to do so excellently,’’ she said.
Smith also said that the new phase would provide an additional option of non-pension custody services through which bank could provide higher standards of service through experienced personnel across FSDH Group.
Mr Hakeem Muhammed, the Divisional Head, Global Markets and Prestige Banking at FSDH Merchant Bank, said that the new offering was FSDH’s proven decades of expertise in financial services.
‘’With the launch of our custodial service, a banking solution aimed at enhancing the post-trading activities of our clients.
“We will ensure an efficient custody management process and safekeeping of assets with the highest assurances of safety, efficiency, use of technology, superior service, lower turn-around-time and a direct settlement process with Euroclear Bank which ensures timely settlement,’’ he said.
He said that it would enable the bank to continue to delight its clients and deliver value-added services that would significantly impact the performance and profitability of its existing and future clients.
With the Global Custody license, FSDH Merchant Bank through its nominees service can now serve as a premium investor services solution provider for asset managers, institutional investors, banks, insurance companies, brokers, private equity firms, NGOs, foreign portfolio investors and HNIs.
Other services include provision of fund services, administration for SEC-regulated collective investment schemes, portfolio valuation, collateral management, escrow agency services, securities lending, cash management, compliance reporting amongst others