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Wednesday, May 17, 2000 The Ratings Game They rate orchids, they rate the best- and worst-dressed, why not rate custodians? Standard & Poors and Thomas Murray think they're up to the task. The duo will introduce what they call a "rating concept" at Thomas Murray's Global Custody Conference in Hong Kong on Friday.
These ratings require the cooperation of custodians in order to obtain data. "We can't do this on the basis of public information," says Mark Bachmann, managing director for financial institutions for Standard & Poor's. "We have to go in and do full, on-site due diligence." No custodians have signed on to date, but Bachmann says they're having "active discussions with several. Printed from: MFWire.com/story.asp?s=25680 Copyright 2000, InvestmentWires, Inc. All Rights Reserved |