The asset servicers’ lead for the BBH Investor Services integration discusses the reasons behind the deal falling through, what State Street will be focusing on in 2023, and why M&A will not be off the table despite the recent acquisition failure.
“You take the hand that's been dealt to you, knuckle down and face up to running the business as effectively as we have done in the past,” says BBH partner Seán Páircéir in this interview with Global Custodian, where he discusses the plans for the Investor Services business’s future.
BBH expresses disappointment in the terminated agreement with State Street but says it will now invest in people, technologies, and select market segments.
Proposed $3.5 billion custody deal mutually terminated after just over a year of regulatory issues and unsuccessful transaction modifications.
State Street’s $3.5 billion proposed takeover of Brown Brothers Harriman’s Investor Services has now been mutually terminated. Here, Global Custodian takes a look back at the timeline of key events that led to this point.
The €100 million, two-year bond represents the inaugural issuance on Goldman Sachs’ tokenisation platform – GS DAP.
A securities services event hosted by TSSAG in London this week showed that opportunities lie in new asset classes, data and a changing ecosystem, while geopolitical risk and a move away from globalisation looms over future plans like a dark cloud.
AIX CSD announces Citibank Kazakhstan has become its participant for the provision of custody services.
Sunwoda Electronic and Hangzhou GreatStar Industrial are the seventh and eighth China-Swiss Stock Connect programmes listed on the SIX Swiss Exchange.
Australia’s fifth largest custodian will wind down its business over the next three years as domestic players continue to face uphill battles against regional and global providers.