Northern Trust’s Q1 revenue rises 6% after mandate-packed quarter
The bank had a bustling first quarter, securing a string of notable new mandates in Europe.
The bank had a bustling first quarter, securing a string of notable new mandates in Europe.
One of the new clients had “no existing services” with the custodian prior to signing up for Alpha.
Custodian also posts sixth consecutive quarter of positive revenue growth, reaching $2.1 billion during the quarter.
Asset servicer posted an impressive 18% year-on-year revenue increase in securities services and an uptick in assets under custody and administration during Q1.
Saham Group has acquired Societe Generale’s Moroccan banking unit, creating uncertainty about its custody offering in the country.
Double-digit rise in securities services revenue complemented by a 11% rise in AUC/A for the bank.
Three new Alpha clients also went live during the three-month period, taking the total to 21 live mandates to-date.
Custodian extends run of consecutive quarters of year-on-year growth to six in a row with latest figures.
HSBC’s global head of custody, Suvir Loomba, takes stock on the tremendous growth seen in the Asian securities services market, examining the enhanced interoperability in the region, the challenges yet to be overcome, and the fine balance between competition and co-operation.
Another client win for Citi comes from NAB Asset Servicing’s exit in the Australian custody market.