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  • Did prime brokerages at big banks like Morgan Stanley, Goldman Sachs and Credit Suisse conspire to overcharge investors and obstruct competitive new exchanges? We may never know the answer, as a New York court will not let the question up for trial.

  • Collaboration with global custodian bank Brown Brothers Harriman (BBH) may well have been a key to SEB’s onboarding of $63 billion in assets over the last two years. Ann Magnusson, SEB’s head of investor services, shares her view in a Global Custodian article.

  • Europe’s international central securities depositories (ICSD) have reported strong results for the first half of the year, boosted by their post-trade and fund services businesses. Total revenues for Brussels-based Euroclear and Luxembourg-based Clearstream increased 8% to €725 million and 6% to €723.8 million respectively, in...

  • Post-trade specialist Thomas Murray – in conjunction with an initial working group comprised of 25 banks – has developed a cash correspondent bank monitoring tool to go live in 2020. The closed-ended, standardised questionnaire will enable market participants – namely transaction banks and in some...

  • The end of intense pricing pressures from asset managers and asset owners maybe in sight, according to State Street’s chief executive, as custody banks eye a normalisation in asset servicing revenues. Custody banks have faced several years of pressure from buy-side clients to lower fees,...

  • The end of intense pricing pressures from asset managers and asset owners maybe in sight, according to State Street’s chief executive, as custody banks eye a normalisation in asset servicing revenues. Custody banks have faced several years of pressure from buy-side clients to lower fees,...

  • Building on the success of its Sanctioned Securities Monitoring Service, Switzerland-based financial infrastructure group SIX is launching a service to identify exposure to Marijuana Related Businesses (MRBs). The service comes as financial institutions, particularly in North America, grapple with a complex and changing legal landscape...

  • Northern Trust has been selected by investment manager Pzena Investment Management to provide fund administration and global asset servicing for its UCITS funds.  The deal continues the Chicago-based custodian’s hot streak this summer, in which it has announced a range of deals for its asset...

  • State Street reported a drop of 3% in its assets under custody in its second quarter results as the value of assets from its pension fund and insurance company clients fell. The custodian also recorded a drop in revenue across its main business lines, with...

  • Two years after BNY Mellon’s chief executive highlighted exchange traded funds (ETFs) as an area where the custodian could improve its asset servicing business, it seems its efforts are paying off. Speaking on the global custodian’s earnings call on Wednesday, Charlie Scharf, CEO and chairman...

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