HSBC appointed as exclusive gold custodian and trustee for Hong Kong gold ETF
Hang Seng Investment launches Hong Kong’s first exchange-traded fund to offer physical gold redemption through HSBC.
Custody
BNY secures operating model mandate with Jupiter
As part of the arrangement, Jupiter has consolidated back-office services for its offshore jurisdictions with BNY and outsourced its middle-office operations.
Northern Trust asset servicing revenue up 6.4% in 2025
Assets under custody and administration (AUC/A) rose to $18.7 trillion, up 3% sequentially.
HSBC appointed as custodian for E Fund onshore mutual fund in mainland China
The mandate marks HSBC’s first onshore mutual fund custody win in China and E Fund’s first partnership with a foreign custodian.
State Street and QNB Group to collaborate on custody servicing model in Qatar
The framework agreement sets out plans for joint custody servicing model across local markets.
Standard Chartered appointed as custodian for First Sentier’s Hong Kong unit trust platform
The mandate expands existing relationship and consolidates fund servicing for Hong Kong-domiciled funds.
State Street sharpens push to sit at centre of digital and traditional markets
Custodian points to Alpha onboarding, digital asset platform launch and private markets growth as operating leverage extends into 2026.
State Street hits record servicing fee revenue of $10.9bn in 2025
Over the year, State Street secured four Alpha mandates, and $484bn in new servicing AUC/A wins, with the majority coming from insurance clients and asset managers.
Custody
BNY doubles down on organic growth as 2025 results shine
Strong growth in ETFs and private markets, alongside accelerating momentum in Asia, were key drivers of BNY’s 2025 performance, as the bank maintains a disciplined openness to M&A.
Russia exit drives Q4 surge for Citi’s securities services business
Annual revenue grows 15% to $5.8 billion – marking the fifth consecutive year of revenue growth for the firm.