HSBC Saudi Arabia Ltd. named Top Agent Bank in Saudi Arabia

HSBC has also been named the "Top Rated" Agent Bank in the Middle East and North Africa regions in the same survey.

Timothy Gray, Chief Executive Officer, HSBC Saudi Arabia Ltd., said:

"We are extremely proud that our clients have rated us the Number 1 Agent Bank in Saudi Arabia. We will continue to invest in the business and work closely with the local regulators and exchanges to contribute to the further development of the Saudi market."

HSBC Saudi Arabia Ltd. has been providing sub-custody services to local and cross-border institutional clients in the Middle East for more than 10 years, and our network is now covering 10 countries in the region.

Zafar Khan, Head of Securities Services, said: "The award recognises HSBC Saudi Arabia's commitment to delivering the highest level of service to our clients, who have rated us in the survey. Our clients will continue to benefit from the comprehensive range of sub-custody and securities clearing services including settlement, safekeeping and corporate actions that we provide."

The Global Custodian Agent Banks in Emerging Markets Survey measures the perceptions of both domestic and cross-border respondents including banks, broker-dealers, fund managers and others, who rated their agent banks on the quality of the sub-custody, clearing and settlement services provided across 68 emerging markets.