Standard Bank confirms Legae Peresec mandate details
May 9, 2019

Standard Bank has now formally confirmed the details of its being awarded the domestic custody and derivatives clearing business of Legae Peresec, South Africa's leading broker, briefly reported here earlier.

It says that key to the 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 longstanding relationship with Standard Bank and given their leadership in the custody and clearing market we saw them as a natural partner to support our brokerage business," said Lester Bailey, Director, Prime Services and Settlements for Legae Peresec.

Said Rajesh Ramsundhar, Head of Investor Services South Africa for Standard Bank. "This appointment extends our relationship…and gives us an opportunity to add further value to their business."

Standard Bank has an Investor Services capability in 15 African markets and a product suite including Custody, Derivatives Clearing, Securities Lending, Trustee Services and Investment Administration. It claims to have the largest direct market coverage and the broadest Investor Services product suite on the African continent.

The bank adds that Legae Peresec is South Africa's leading equities broker in terms of volume and value of trades executed in the SA market. The firm provides 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.





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Standard Bank has now formally confirmed the details of its being awarded the domestic custody and derivatives clearing business of Legae Peresec, South Africa's leading broker, briefly reported here earlier.

It says that key to the 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 longstanding relationship with Standard Bank and given their leadership in the custody and clearing market we saw them as a natural partner to support our brokerage business," said Lester Bailey, Director, Prime Services and Settlements for Legae Peresec.

Said Rajesh Ramsundhar, Head of Investor Services South Africa for Standard Bank. "This appointment extends our relationship…and gives us an opportunity to add further value to their business."

Standard Bank has an Investor Services capability in 15 African markets and a product suite including Custody, Derivatives Clearing, Securities Lending, Trustee Services and Investment Administration. It claims to have the largest direct market coverage and the broadest Investor Services product suite on the African continent.

The bank adds that Legae Peresec is South Africa's leading equities broker in terms of volume and value of trades executed in the SA market. The firm provides 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.



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