Custody

State Street reprises a key role it once played in the 2008 financial crisis as the US central bank aims to stimulate markets.

BNP Paribas has been active in the depositary acquisition space in recent years, after acquiring Italy's third largest depositary bank in 2018.

The Singapore-based bank will combine and align its custody and post-trade operations with the portfolio risk management and prime finance businesses.

The new global survey will rate providers based on client feedback in a number of key ETF service areas, and will go live on Monday 6th April.

Ohio State Treasurer stated in a memo the move would “reduce overall fees" from its current custodian. 

The $35 billion super fund decided to defer the move from a ‘risk management perspective’, given the extreme market volatility caused by the COVID-19 virus.

Custodians are fielding more questions about their business continuity plans from a growing number of buy-side and sell-side clients.

The new VCC structure is designed to strengthen Singapore’s status as a regional fund distribution hub.

By taking over RBC’s Australian client-base, Citi will become the second largest custodian in the country, behind JP Morgan.