Standard Bank secures custody and derivatives business of leading brokerage firm in South Africa

May 02, 2019

Standard Bank, Africa’s largest bank by assets, has been awarded the domestic custody and derivatives clearing business of Legae Peresec, South Africa’s leading broker. 

Legae Peresec is South Africa’s leading equities broker in terms of volume and value of trades executed in the SA market. They provide brokerage services to South African institutional and private client asset managers, insurance and savings funds, hedge funds, investment banks, corporates, broker dealers, liquidity providers and a select group of high net worth clients.

Key to Standard Bank’s appointment was the depth and tenor of the banks’ relationship with Legae Peresec, along with its leadership and expertise in the custody and clearing business. “We have a long-standing relationship with Standard Bank and given their leadership in the custody and clearing market we saw them as a natural partner to support our market leading brokerage business,” said Lester Bailey, Director: Prime Services and Settlements for Legae Peresec.

Standard Bank is the leading provider of Investor Services across the African continent. With an Investor Services capability in 15 African markets and a product suite including Custody, Derivatives Clearing, Securities Lending, Trustee Services and Investment Administration, Standard Bank has the largest direct market coverage and the broadest Investor Services product suite on the African continent. 

Standard Banks’ leadership in the Investor Services business is built on a team rich with expertise and experience and consistent investment in technology solutions and people to support its client franchise and the development of capital markets in Africa. 

“We are absolutely delighted to be appointed as the custodian and clearing provider for Legae Peresec,” said Rajesh Ramsundhar, Head: Investor Services South Africa for Standard Bank. “This appointment extends our relationship with Legae Peresec and gives us an opportunity to add further value to their business, through our market leading Custody and Clearing capability.”

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