Citi and JP Morgan post the largest annual AUC/A growth among largest four custodians, as BNY lags the group on a percentage basis.
Assets under custody and administration reach €18.3 trillion, supported by market performance and new mandates.
Favourable markets and net new business drive record AUC/A and continued growth in custody and fund administration fees.
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New servicing fee revenue wins rose to $87 million during the quarter, while assets under custody and/or administration hit a record high.
Assets under custody/administration (AUC/A) rise to $62.6 trillion – up 5% from the previous quarter.
Growth in assets under custody and administration (AUC/A), alongside new client mandates and expanded ETF servicing capabilities, helped drive a strong second quarter for Citi’s securities services business.
Higher market levels, client activity and deposit balances extend the custodian's year-on-year growth streak to 15 quarters.
Proposed acquisition would see Euroclear acquire the service provider from BNP Paribas and CACEIS.
Asset servicer will provide custody, administration and depositary services for Invesco Markets V ICAV.