Custodian reports Q2 results with uptick in assets under custody and administration and drop in fees income, as CEO highlights development in self-service capabilities.
JP Morgan has now moved up to number two in the global custody rankings with just under $27 trillion of assets under custody.
The Chicago-based global custodian said it had recorded growth across 20 marquee pension fund client types.
Assets under custody fall for State Street as do servicing revenues.
BNY Mellon held previously held the rank as the largest global custodian by assets for three straight years.