Overall securities services revenues dropped only marginally in 2020 compared with 2019, with fund services sector even producing record returns.
The former JP Morgan and State Street securities services veteran has retired after 32 years in the Australian asset servicing industry.
The launch of the solution comes as BlackRock looks to make its Aladdin Provider platform a core infrastructure used between investment managers and asset servicers.
The new client wins signify a growing acceptance among asset managers to use custodians for a range of front-office services.
A bounce in market valuations on the back of improved market returns and ongoing client confidence helped fuel the increase in AuC in Australia.
Mandate follows agreement in January to integrate Amundi’s portfolio management system into BNY Mellon’s front-to-back technology infrastructure.
Under the partnership, Standard Bank’s clients will gain access to Northern Trust’s full suite of transition management services.
The license follows FAB’s recent agreement to acquire Bank Audi Egypt, which included its local custody business.
The hire is the second former State Street executive to join Citi’s securities services sales team after it a recruited new head of APAC sales this week.
BNY Mellon said it plans to offer its new digital assets custody and administration services later this year.