Insurance asset servicing specialist switches BNY Mellon for State Street after almost 20 years with the custodian.
Tag: asset owners
The findings follows a wave of buy-side firms that have expanded into private markets in response to increasing pressure on performance and fees.
HSBC has signed securities services partnerships with the National Grid UK Pension Scheme and the Cadent Gas Pension Scheme.
State Street continues to bolster its impressive list of clients that are using the Boston-based custodian for full front-to-back office services.
The mandate follows the launch of its new Oslo-based office, its second in the Nordic region, where it will offer onshore depositary services to buy-side firms.
State Sreet will provide performance and analytics solutions, and fund services to the pension fund’s $4.7 billion real estate portfolio.
HSBC's reappointment followed a detailed independent benchmarking and due diligence exercise of the pension scheme’s global custody arrangements.
The hire is the latest in State Street’s effort to bolster its asset owner servicing team globally.
Asset managers and asset owners with over $100 billion in assets under management (AuM) said they plan to reduce their number of service providers.
The new tools will provide further support for institutional investors and asset owners that manage their own sophisticated portfolios.