sub-custodian monitoring

What is the question?

Many people watch the movement of stock market indices, and perhaps also interest rate changes, and possibly even foreign exchange movements: but who considers with much frequency or depth how a corporate issuer paying its dividend or interest rate coupon figures out how much to send to each beneficiary, or how it gets paid out and finds its way to their individual accounts in some far-off country? For those who do not particularly think about what is behind a light switch such that a room is well lit at night, or ask themselves about how clean water arrives at their tap, both hot and cold, they are also not likely to consider how stocks and bonds are looked after when their savings are invested in them. Most of the time, all of this infrastructure works without further consideration.

Sub-custodian monitoring can be eased for network managers with an industry standard due diligence questionnaire. Watch our video with AFME

One of the most discussed topics to have arisen out of the Alternative Investment Fund Managers Directive (AIFMD), at least from a banking perspective, has been the imposition of ‘strict’ liability upon depositary banks for any losses incurred at the depositary or third party to whom custody of financial instruments has been delegated (Article 21, chapter 12 of AIFMD).

We are delighted to announce that Morgan Stanley has selected Thomas Murray Data Services (TMDS) to assist it with its efforts in monitoring its sub-custody and cash correspondent bank relationships globally.

Thomas Murray Data Services is delighted to announce that Marie Ellis has joined the company in the role of senior bank analyst in TMDS’s Agent Banking Group. Marie joins from Brown Brothers Harriman where she headed the Network Management team in London and held various relationship management and client service roles during the last 11 years.

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