Drop in pension fund and insurance client assets bring down State Street’s AUC
Tough quarter for Boston-based custodian as revenues from asset servicing fees and assets under custody both drop.
Custody
BNY Mellon boosted by ETF asset servicing growth
The global custodian's CEO says the bank remains very focused on growing its ETF servicing business after notable growth.
ESG provider to custodians secures $20 million from German investment firms
Arabesque S-Ray, which supples ESG data to State Street and BNY Mellon, secures funding from four German investment firms.
Securities lending dampens BNY Mellon’s asset servicing revenues in Q2
The decline means another disappointing quarter for the world’s largest global custodian as asset servicing revenues fell 8% year-on-year.
JP Morgan’s securities services growth stalls in second quarter
Results were partially offset by increased client activity, as assets under custody increased by over 5% to $25.5 trillion.
BNP Paribas Securities Services wins clearing mandate from Italy’s Arca Fondi
BNP Paribas Securities Services has emerged as a leading derivatives clearing provider in Italy, having won a number of clearing and collateral management mandates.
State Street to open Jeonju office to strengthen ties with Korea’s NPS
NPS extended its back-office mandate for their global equities portfolio with State Street to also include the middle-office.
Northern Trust secures major superannuation custody mandate
Superannuation fund owned by the Government of South Australia selects Northern Trust for custody mandate.
Deutsche Bank transitions leadership of securities services to New York
The German bank's global head of securities services departs after a year in the role, as Deutsche Bank names successor in New York.
BNP Paribas Securities Services expands front-to-back offering to hedge funds
Global custodians are increasingly seeking to evolve their business models, which have traditionally centred on the back-office, to include front-office services.