BNY Mellon looks to 2021 after revenue drop in the fourth quarter
Despite asset servicing revenues decline in Q4, BNY Mellon said results from its best sales quarter in the last couple of years will be realised in 2021.
Custody
State Street sets $1.5 trillion in new asset servicing wins as the benchmark for growth
State Street's CFO said the custodian would have to generate new business wins of amounting to $1.5 trillion in AUC to achieve growth.
HSBC retains back-office outsourcing mandate from BBC Pension Scheme
HSBC's reappointment followed a detailed independent benchmarking and due diligence exercise of the pension scheme’s global custody arrangements.
BNP Paribas appointed as depositary bank for Commerz Real’s sustainable fund
Custodian wins depositary mandate from fund investing in renewable energies, infrastructure, transport and mobility, and forestry.
Soc Gen chosen by Italian real estate fund for depositary services
Italian real estate fund run by Ministry of Economy and Finance appoints Soc Gen as depositary bank.
BNY Mellon and BlackRock expand alliance to give greater freedom of choice on middle-office
Agreement will allow custodian’s asset servicing business to operate BlackRock Aladdin’s middle-office service on behalf of common strategic clients for a more integrated front-to-back model.
State Street appointed as custodian and fund administrator in Australia by Perpetual
Asset manager appoints State Street following RBC’s sale of its Australian custody unit.
State Street posts relatively flat Q4 asset servicing fee revenues despite AUC/A jump
Revenues from global custody and fund administration fees grew by just 0.6% to $1.3 billion for the last three months of the year.
Janus Henderson to use BNY Mellon’s global data management platform
Asset manager describe deal as a “long-term commitment” as it leverages BNY Mellon platform to support its data platform transformation strategy.
JP Morgan’s record $31 trillion AUC closes the gap with BNY and State Street
The milestone follows a period of increased investment by the US bank into its securities services business over the past few years.