Custody

Assets under custody fall for State Street as do servicing revenues.

Absa to re-enter South African custody services after five years, as Soc Gen sells business and closes securities lending offering in the country.

Cypriot financial services firm selects French bank for fund services and custody.

Rapidly-growing fund administrator selects Citi to provide custody services to its asset management clients.

BNY Mellon's Scharf explained to investors the pipeline for new clients of Pershing is bigger than it has seen over the past five years.

The consolidation of the US assets, representing $39 billion, with Citi as its single provider successfully went live in December last year.

BNY Mellon attributed the fall in revenue to “lower client assets and activity and the unfavourable impact of a stronger US dollar.”

Nordea sought to partner with a custody and fund administration provider that operates both in the Nordic market and in Luxembourg.

Both banks signed a global custody mandate with Korea's NPS last year, which the pension fund hopes the banks can help it tap deeper into new asset classes.

ESMA report highlights lack of harmonised definition of safekeeping and record-keeping of ownership of securities at an EU-level.