State Street acquires key ETF client assets from BNY Mellon
The $50 billion New York-based fund manager has used both BNY Mellon and State Street as custodians for its global ETF product range.
Tag: asset servicing
Asset servicers waiting on regulatory clarity before ESG expansion
Some custodians are conflicted whether they wait for the EU’s taxonomy to become crystallised or pre-empt it entirely by rolling out their own ESG reporting solutions.
Securities lending dampens BNY Mellon’s asset servicing revenues in Q2
The decline means another disappointing quarter for the world’s largest global custodian as asset servicing revenues fell 8% year-on-year.
Custody
Sub-custodians look to evolve business models to fend off consolidation threat
Sub-custodians are now forced to adapt their businesses to accommodate the competition posed by Investor CSD models.
Northern Trust wins asset servicing mandate for £22 billion UK fund manager
Northern Trust supported the launch of the Smithson Investment Trust, the largest UK-listed investment trust to launch, in October last year.
PwC says more fund administrators could enter the crypto servicing space in the coming months
More fund administrators could enter the crypto asset servicing space in the coming months according to PwC, which has highlighted the importance of independent valuation from traditional providers.
BNY Mellon wrestles Microsoft custody mandate from Northern Trust
The deal marks Microsoft’s first change in custodian in a decade for its $130 billion in assets.
State Street records double-digit drop for asset servicing revenues
The Boston-based global custodian stated the drop was down to challenging industry conditions including fee concessions and lower client activity.
Asset servicing fees decline sees drop in BNY Mellon’s Q1 investment services revenues
Revenue from asset servicing, its largest business, was down 7% in comparison to the first quarter of last year at $1.4 billion
Goldman Sachs outlines front-to-back office operations strategy
The review will include a potential uplift of operations for client on-boarding, asset servicing, collateral management and settlement processes.