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Asset Servicing / Awards / Wealth Management
Asset servicing awards: Best custodian bankers
Utumporn Viranuvatti, Rick Hu, Dilan Jesudason on top in Thailand, China, Sri Lanka
The Asset 25 May 2023

Volatile markets, changing regulatory landscapes and various economic crises in 2022 exerted extreme pressure on asset service providers as they struggled to meet the extraordinary demands and requirements of their clients.

However, amid these challenging market conditions, the best of them rose up to the challenges by handholding their clients, providing innovative solutions, liaising with regulators to ensure their clients’ interest are protected, and providing quality services overall.

It is in this context that we announce the winners of The Asset Servicing Leadership Awards for 2023 as part of The Asset Triple A Sustainable Investing Awards for Institutional Investors, ETFs and Asset Servicing Providers 2023.

Custodian Banker of the Year - Thailand

Utumporn (Wam) Viranuvatti, head of securities services, HSBC Thailand

Apart from being head of securities services for HSBC Thailand, Utumporn (Wam) Viranuvatti is also the chair of the Custodian Club of Thailand; and, along with market regulators, she has been actively leading on key agenda issues, such as national e-payments, a T+2 settlement cycle, the Bank of Thailand (BoT)’s distributed ledger technology project, the Fund Connect platform, digital asset exchanges and custodians, non-standard requirements for corporate actions, digital infrastructure for capital markets, BoT’s Bond Investor Registration requirement, and the financial transaction tax.

And, in addition to running securities services for HSBC, Viranuvatti, for many years, has been playing a big role in assisting regulators and other stakeholders in the overall development of Thai capital markets.

As an experienced custodian banker, Viranuvatti has spent 20 years in the securities services industry driving growth through the implementation of new products to both existing and potential clients and been responsible for maintaining efficient operations by strengthening the control environment and ensuring effective operational risk management is in place.

“I am passionate about my work because it is unique from other transaction banking services, as I get to work with Thailand's capital markets,” Viranuvatti says. “This means that I have the opportunity of working directly with regulators, market participants and customers. In addition, I have first-hand experience in various market developments, extreme regulatory reform and past financial crises. I am proud to be part of the dynamic shifts and changes occurring in Thailand’s capital markets. And I advocate and work alongside key stakeholders for the greater good of the markets.”

In 2015, Viranuvatti was also honoured as Custodian Banker of the Year, Thailand, by The Asset.

Custodian Banker of the Year - China

Rick Hu, country head, Standard Chartered China

Rick Hu is continually showing his passion for improving Standard Chartered China’s quality of service. Last year, in particular, Hu led the team to capture the growing opportunities in the qualified domestic institutional investor (QDII) market, providing his clients with a one-stop shop solution. Through direct conversations with Hu’s clients, The Asset discovered that they are especially satisfied with the efficiency and professional services offered by the team.

With such positive client testimonials, Standard Chartered China also became the first foreign bank to win a China onshore award in The Asset’s Triple A Sustainable Investing Awards for Institutional Investors, ETFs and Asset Servicing Providers 2023 when it was recognized as Best Custodian, QDII, China onshore, Highly Commended.

Hu has been working with Standard Chartered for almost seven years and previously worked with a global bank for almost 15 years in securities services roles.

Custodian Banker of the Year - Sri Lanka

Dilan Jesudason, head of securities services, Sri Lanka, Deutsche Bank

Dilan Jesudason, has been with Deutsche Bank in Sri Lanka for over 14 years, six years of it as head of securities services.

Jesudason has ably led Deutsche Bank Securities Services through the most challenging times. In 2022, owing to the economic crisis that hit the country, there was heavy selling by foreign investors in equities and government securities that led to a decline in holdings by cross-border investors. Domestic investors, on the other hand, were keen investors in the equity and fixed-income markets, and Deutsche Bank saw most of its growth coming from domestic flows.

Led by Jesudason, Deutsche Bank was at the forefront of securing these new mandates and enabling its existing clients to increase their investments in these asset classes. Because of this, Deutsche Bank AG Colombo Branch was the preferred custodian and fund administrator for the newly licensed mutual funds as fund managers looked to take advantage of the renewed interest by domestic clients in equities.

“Our proven track record, coupled with a dominant market share, have been key factors in Deutsche Bank being awarded such mandates on a regular basis – and 2022 was no different,” Jesudason states. “Our continued focus on improving efficiency and increasing automation has been well received by clients. We are able to provide a state-of-the-art electronic banking platform.”

Please click here for the list of winners of the Asset Servicing Leadership Awards

To join the in-person annual celebratory dinner on June 19, 2023 in Hong Kong, please contact us at

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