The service will streamline corporate actions, dividend and coupon processing across asset classes, business lines and regions.
Tag: asset servicing
Assets under custody and administration (AuC/A) also jumped 7% for BNY Mellon to $34.5 trillion and 12% for Northern Trust to $10.8 trillion.
The portal will combine data drawn directly from around 150 agent banks and the multiple loan market services provided by IHS Markit.
The move is likely the first personal hire by Dan Houlihan in his new role running Northern Trust’s Americas asset servicing business.
The appointment is one of the more significant hires for BNY Mellon as it attempts to regain the top spot in the global custody rankings.
In the newly-created role, he will be responsible for all front-, middle-, and back-office services to asset owners and asset managers.
BNY Mellon report finds an additional $334 billion investment in real estate and $130 billion in infrastructure coming over the next two years.
The ETF market has quickly emerged as a key battleground for custodians and fund administration to win new clients and mandates.
Investments into technology was cited as a core factor for State Street achieving new business wins.
The new account will bring around 80% of the custody and settlement volume of T2S markets onto Clearstream’s Investor CSD services.