BNY Mellon sets consecutive custody record in Q2

BNY Mellon estimated new custody mandate wins of $152 billion in the second quarter.
By Joe Parsons

BNY Mellon has set a second consecutive record in assets under custody and administration (AuC/A) in Q2, following new wins in its asset servicing business.

The world’s largest global custodian estimated new AuC wins of $152 billion, taking its global AuC to $31.1 trillion. BNY Mellon attributed the 5% growth to higher market values.

Asset servicing fees increased 1% year-on-year to just over $1 billion, “primarily reflecting net new business, including growth of collateral management solutions and higher equity market values,” it stated.

Clearing fees also increased 13% over the year, as did Treasury services fees of 1%, taking its total investment services fees to $1.8 billion.

“We have distinctive capabilities in areas such as collateral management solutions, middle-office outsourcing and liability-driven investments, and made an early commitment to delivering an industry-leading digital investment platform,” said Gerald Hassell, chairman, BNY Mellon.

BNY Mellon also saw growth in its securities lending business, with the value of its securities on loan increasing 21% to $336 million in the quarter.

Total second quarter revenue reached $4 billion, up 5% year-on-year.

The growth in the second quarter reflects stronger securities services revenues across the board, with both JP Morgan and Citi reporting an increase in the business. 

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