Many of the established custodians are remaining on the sidelines to see what exchanges and other market infrastructures will offer for tokenised securities.
The hire is the latest move for BNY Mellon as it looks to identify and launch new opportunities to expand its digital and data capabilities.
The hire is the latest big name addition for BNY Mellon as it continues to build out its digital leadership.
Custodians have highlighted the need to have a single-client view and digitise the account opening process.
The appointments follow the recent addition of an artificial intelligence (AI) and robotics expert from State Street last month.
Deutsche Bank is looking to further develop its digital capabilities, following the go-live of its chatbot Debbie last year.
The new services will help Pershing enhance its traditional clearing, custody and back-office services for its wealth management clients.
The move towards smart contracts and DLT presents a new opportunity for custodian banks to grant client access to their own data.
RBC I&TS is currently two years into a four-year programme of digitally transforming its back- and middle-office services globally.