Despite unfavourable conditions for the global custody industry as a whole in the first few months of the year, Ron O’Hanley, State Street’s new CEO, sees untapped opportunities.
The review will include a potential uplift of operations for client on-boarding, asset servicing, collateral management and settlement processes.
Custodians are moving to becoming one-stop-shop platforms, enabling investment managers to access a wider range of data and analytics tools.
Global Custodian takes a deep dive into the nominees for its Editors’ Choice awards at this year’s Leaders in Custody event, next up: the candidates up for Best Asset Servicing Project.
State Street’s recent organisational restructure will help accelerate the delivery of a front-to-back investment servicing platform.
State Street has highlighted its upcoming execution priorities, the formation of a new pricing committee, and how it will expand its asset servicing business.
Northern Trust will act as the sole broker for AD Global Investors, assisting with its fixed income execution as well as providing custody, fund admin and FX services.
A number of custodians and fund administrators have targeted the front-office as a new growth opportunity and expand from its traditional back-office services model.
The move is the latest effort by custodians to expand into the front-office; however, Northern Trust is the first to take on certain trading activities for asset managers.