LONDON — RBC Dexia Investor Services retained the top spot among global custodians in R&M Surveys' 2006 annual survey of customer satisfaction; the firm had a client satisfaction score of 6.18 on a scale of one to seven. Pictet Group climbed to second place from fifth in 2005, with a score of 6, up from 5.77. Societe Generale slipped to third place, from second, while UBS held on to fourth place. Mellon Financial took fifth place in the latest survey, slipping from third place a year ago. Rounding out the top 10, Northern Trust climbed to sixth place, from eighth the year before; Brown Brothers Harriman slipped to seventh from sixth; BNP Paribas fell to eighth from seventh; HSBC held steady in ninth place; and Credit Suisse rose to 10th from 11th place. Bank of New York, in 10th place last year, fell to 12th place in the most recent survey. Richard Hogsflesh, managing director of R&M Surveys and author of the independent survey, was not available to provide additional information.
INTERNATIONAL BRIEFS: RBC leads in custody survey
TORONTO — The Ontario Municipal Employees Retirement System returned 16% for the year ended Dec. 31. Officials for the C$5.5 billion (US$4.8 billion) fund cited increases in private equity and real estate returns. The fund's private equity investments returned 23.2% for 2005, up from 12.5% for 2004; real estate earned 26% for 2005, compared with 11% for 2004; and infrastructure returned 23.2% for 2005, down from 31% the year before. OMERS long term strategy is to increase its holdings in private equities, real estate and infrastructure to a combined 37.5%, from 19.8%.