The new Depotbank service will be led by Marco Wiegmann, who joined Northern Trust in September after 10 years spent with RBC I&TS.
BNP Paribas Securities Services, BNY Mellon and JP Morgan win big during week of celebrations recognising the outstanding achievements of the securities services industry over the past 12 months.
Two mandates make the custodian the first foreign bank to execute deals in both domestic mutual fund and WFOE segments.
Overwhelming percentage believe digital assets will become dominant over time, while 63% of over 200 survey participants have already begun developing a strategy.
Citi’s custody and fund services team has been successful to win a number of key mandates from regional asset managers.
Significant cost pressures have been a driving force behind innovation, and custodians are planning to devote a greater proportion of revenues to innovation investment.
The mandate is the latest for HSBC, which has become a leading provider for international fund managers to launch UCITS funds.
The findings follows a wave of buy-side firms that have expanded into private markets in response to increasing pressure on performance and fees.
U.S. Bank names a 20-year veteran and its current corporate treasurer to take on the role of president for the global corporate trust and custody business.