The $50 billion New York-based fund manager has used both BNY Mellon and State Street as custodians for its global ETF product range.
Some custodians are conflicted whether they wait for the EU’s taxonomy to become crystallised or pre-empt it entirely by rolling out their own ESG reporting solutions.
BNP Paribas Securities Services saw revenues increased 12%, in comparison to the second quarter last year, to €596 million.
The mandate marks the latest in a series of partnerships for Northern Trust’s brokering service, which has recently signed a flurry of emerging fund managers.
Oversight of cash correspondent banks has historically been a fragmented process owing to an absence of harmonisation in methodologies and technology platforms.
Ron O’Hanley, CEO and president of State Street, explained this period of ‘extraordinary price pressure’ could be levelling out for the global custodian.
Switzerland-based financial infrastructure group to launch a service to identify exposure to Marijuana Related Businesses.
Global asset servicing deal extends Northern Trust’s long-standing relationship with Pzena’s $37.4 billion assets under management.
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.