As 2022 is coming to an end, I want to reflect on what has certainly been an eventful and productive year for our industry and, especially, for UniCredit Global Securities Services
With all of the challenges this year has brought, be it on the accommodation of regulatory changes, where GSS continues to play a leading role in the advocacy for European standards, ongoing economic effects and BAU adaptation of the COVID pandemic or the conflict between Ukraine and Russia, in the heart of our region and hearts of the world, this year has also brought many positive developments. Above all, the renewed ability to travel and see our partners face to face, a return to normality which has certainly been much appreciated by the entire industry. Standards and frequency in communication have improved greatly over the last 3 years and I can safely say that we have become closer through these advancements in the virtual space. However, as we all know, nothing fosters and reinforces our relationships better than physical contact. Going forward, I expect that we will see a healthy mix of both worlds underlining the benefits of increased communication, be it virtual or physical.
With all of this, I am extremely proud of the dedication and focus shown by the Global Securities Services family when it comes to the maintenance and improvement of our overall service standards, best exemplified by the successful implementation of our new Custody system, BaNCS, across 6 of our markets (5 within the year). While a project of this size certainly has its challenges, these rollouts have met and even exceeded our expectations but most importantly and as promised, there has been no impact on clients throughout all of the seamless transitions. These implementations have also, once again, underlined the true commitment of the Group, to not only provide the investment and support for a tangible and visionary long-term development for Securities Services within UniCredit, but to deliver on what had been promised.
While we look forward to carrying this momentum through 2023 and beyond, I would like to use this opportunity to thank all our clients, partners, and friends, for their continued trust in our services, proactive engagement with all our employees, and for all opportunities realized, as well as those to come.
In this regard, I want to wish you all the best during the holidays and a successful and healthy New Year!