First Custody Banks in Serbia
19. February 2007. | 11:19 18:36
Société Générale, Vojvodjanska Bank, HVB and Hypo Alpe-Adria Bank are the four banks that the Serbian Securities Commission has awarded permits to perform custody services, that is, to manage all activities related to their customers’ securities.
Custody services include full management of a bank’s client’s portfolio, such as shares, bonds and other securities. That also means that the bank will trade on behalf of its client, but under its own name, so that the client remains anonymous. Unlike custody banks which guard the identity of their customers, brokerage companies trade on behalf and under the name of their clients.