Northern Trust’s custody results round off poor end-of-year for US banks
The results are in line with the bank’s US competitors, as the mass sell-off in equity markets hit custody assets.
The results are in line with the bank’s US competitors, as the mass sell-off in equity markets hit custody assets.
Long-serving BNY Mellon executive with three decades of asset management experience joins State Street for second spell.
Assets under custody fall for State Street as do servicing revenues.
With a new wave of initial margin rules on the horizon, BNY Mellon says clients are already more prepared.
BNY Mellon's Scharf explained to investors the pipeline for new clients of Pershing is bigger than it has seen over the past five years.
BNY Mellon attributed the fall in revenue to “lower client assets and activity and the unfavourable impact of a stronger US dollar.”
Both banks signed a global custody mandate with Korea's NPS last year, which the pension fund hopes the banks can help it tap deeper into new asset classes.
The eighth action against a bank or broker, and fourth action against a depositary bank, resulting from the SEC’s ongoing investigation into abusive ADR pre-release practices.
Custodian to pay a $54 million settlement to US regulator over American Depositary Receipts.
BNY Mellon has integrated Bloomberg BSKT and introduced a global standard for transmitting orders via its electronic messaging service.