allAfrica.com: UBA GIS wins Money Markets' Innovation Award for West Africa

UBA Global Investor Services (GIS) the custodian arm of the United Bank for Africa Plc, Africa’s global bank has won the prestigious Money Market Innovation award, thus becoming the first and only West African Custodian to receive the coveted award.

Money Market is an International financial research and investor information journal with a well circulated Custody Review. The Editorial Panel of Money Market includes the President of the European Central Bank, CEO of the London Stock Exchange, CEO FTSE, the Chairman of the Bond Market Association, the Vice Chairman Credit Suisse, amongst other globally recognized and highly respected financial leaders.

The Innovative Award is the highest category of Awards issued by Money Markets and will be presented formally to UBA Global Investors Services at the forthcoming 10th Anniversary Award Dinner of Money Market holding later this year in London.

Victor Callender, CEO Money Market said that the judging Panel selected UBA Global Investor Services for the prestigious award based on its global best practices on custody management especially domestic custody services.

“Given your outstanding commitment and contribution to the domestic custody market, technology/value-added services, I am pleased and delighted to confirm that the Money Markets Review Panel has awarded UBA this year's coveted Innovation Award” he remarked.

“In terms of client service, UBA has also been awarded Best-in-Class Western Africa” he continued.

Previous recipients of the Innovation Awards include Citigroup, HSBC, Nordea, and BNP Paribas while current year international recipients covering other regions include JP Morgan WSS, UBS, Brown Brothers Harriman, Deutsche Bank and Societe Generale.

“This is another landmark achievement which underscores the increasing confidence UBA enjoys in the global custody arena. It also supports our wider aspiration to be a recognized and respected player in the global financial services sector,” said Sanni Toyin, CEO UBA Global Investor Services.

UBA Global Investor Services provides core and value added domestic services to global custodians and institutional investors in respect of investments in Nigeria and West Africa Economic Union (WAEMU) region comprising eight Francophone West African Countries.

Its market leading position and growing international status is exemplified by the recent appointment by the Bank of New York Mellon (BNYM), the worlds largest Global Custodian with over 20 Trillion USD in Custodial Assets, as a sub- Custodian in Nigeria for its Depository receipts Programmes (‘DRs”)