Northern Trust eyes increased scalability after CEO admits missing targets
Northern Trust is in the midst of a multi-year strategy of digitising its asset servicing business, with the aim to increase profitability and scale.
Custody
HSBC trades first interest rate swap through CIBM clearing model
The bank acted as the counterparty and settlement agent for the interest rate swaps trade by Singapore investment firm Dymon Asia.
BNY Mellon’s interim CEO shakes up asset servicing leadership
The shake-up gives three of BNY Mellon's most senior asset servicing executives new roles to expand product development and client management globally.
Securities services experts team up at new advisory firm
Former Standard Bank investor services duo and custody veteran launch UK and SA-based advisory firm.
Asia
Global Custodian announces Leaders in Custody awards shortlist 2020
Annual survey honours top performers from GC’s Agent Banks in Emerging and Major Markets surveys accompanied by Editors’ choice awards. The full list can be found here.
New focus on large clients pays off for State Street despite pricing pressures
The improved performance in the last three months followed a renewed focus on its largest asset manager and asset owner clients.
Candriam migrates asset servicing activities to CACEIS
CACEIS secures first mandate win since merger with Santander Securities Services.
BNY Mellon reports drop in fourth quarter investment services revenues
Custody giant's revenues fall short of analyst estimations for second consecutive quarter.
Custody
BNY Mellon and State Street draw new battle lines for front-to-back data
A trend that defined global custody in 2019 and continues to spark debate, Global Custodian investigates the front-to-back data models of the market’s two largest providers.
Custodians play the waiting game in monetising data services
Data will be a future revenue source for securities services providers, but custodians need to work harder at providing use cases for it before charging clients.