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