The HFC Custody Services is targeting at least 35 per cent of the market share in the next three years.
The unit, which is the custody services wing of the HFC Bank, started operations about a year and a half ago, but is upbeat about its services, especially given the response from the industry and its impact on the number of customers it will have in the coming years.
Its Advisor, Mr Augustine Kwakye-Agyekum, told the Daily Graphic in Accra, that although the HFC Custody Services started on a difficult note, things had normalised as people began to sign onto the business after experiencing its service quality.
“We started struggling but all is now well. People have tasted our services and because of the quality, most of them leave the ‘big guys’, who they were doing business with, to our place and that is good news to us,” he said in an interview.
Mr Kwakye-Agyekum, who has about 19 years of experience in the custody services business, spoke to the paper after the HFC Custody Services hosted some business executives to a breakfast meeting in Accra.
The unit used the opportunity to market its line of business, the team and their guiding principles to the participants, who were drawn from custody services sector.
Mr Kwakye-Agyekum explained that although many businesses and people had left their traditional custodians for HFC Custody Services, they were not doing that just for price but because of the quality service rendered by his outfit.
He mentioned detailed and multiple reporting on customer accounts and prompt response to customer enquiries as some of the traits that made the HFC Custody Services stand out among its peers.
On the way forward, Mr Kwakye-Agyekum said his outfit would work to consolidate its gains, including attaining at least 35 per cent of the market share, while helping the industry regulator, the National Pensions Regulatory Authority (NPRA), to develop the market.
The Managing Director of HFC Bank, Mr Asare Akuffo, pledged the bank’s support to the unit and called on the general public to count on it for distinct service delivery.
By Maxwell Adombila Akalaare