Ron O’Hanley, CEO and president of State Street, explained this period of ‘extraordinary price pressure’ could be levelling out for the global custodian.
Tough quarter for Boston-based custodian as revenues from asset servicing fees and assets under custody both drop.
Global custodians are increasingly seeking to evolve their business models, which have traditionally centred on the back-office, to include front-office services.
State Street's former head of EMEA, Liz Nolan, was named head of its global delivery team earlier this year after a senior leadership reshuffle.
The mandate represents the successful integration of front-office technology firm Eze Software with SS&C GlobeOp.
Lazard Asset Management signs letter of intent to use State Street’s widely-discussed front-to-back investment servicing platform.
The newly created role will involve oversight of the data underpinning its front-to-back platform development.
State Street has made a series of enhancements in support of asset owners, as it prepares to onboard buy-side clients to its front-to-back model.
Topics discussed at the forum included achieving buy-side operational efficiencies, new front-to-back service models, blockchain, ESG and tokenisation.