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  • Northern Trust is planning to increase technological investment in its asset servicing platform, according to its chief executive, who said the bank has missed on its scalability goals. Speaking on the global custodian’s fourth quarterly earnings call, Mike O’Grady, CEO of Northern Trust, explained that...

  • HSBC China has facilitated the first interest rate swap trade via the central counterparty clearing model in the China Interbank Market (CIBM) for an overseas institutional investor. The bank said that it acted as the counterparty and bond settlement agent for the transaction, which was...

  • BNY Mellon’s interim chief executive, Todd Gibbons, has made a trio of senior leadership changes to the custodian’s asset servicing division, as he looks to make a case for occupying the role permanently. Hani Kablawi will now take on regional management for BNY Mellon’s teams...

  • A group of industry veterans led by Global Custodian legend and former Standard Bank investor services head, Mark Kerns, have launched a new post-trade advisory firm in the UK and South Africa. Adapa Advisory has been established to provide strategic insights and pragmatic advice to...

  • Global Custodian has released the shortlist for the annual Leaders in Custody awards to be held at the prestigious Savoy Hotel in London on 26 March. The celebrations honour top performers from Global Custodian’s Agent Banks in Emerging and Major Markets surveys, along with Editors’...

  • State Street’s recent focus on getting the most out of its largest clients has helped the custodian bank finish the year on a high, despite ongoing pressures on fees and pricing. The Boston-based global custodian reported a 1% increase in servicing fees to nearly $1.3...

  • Candriam will migrate its custody, fund administration and transfer agency for its Luxembourg and French funds to CACEIS, marking the first mandate win for the newly-merged asset servicing group. The combination of CACEIS, the asset servicing banking group of Crédit Agricole, and Santander Securities Services...

  • BNY Mellon has reported a slight fall in investment services revenues for the fourth quarter of last year, missing analyst estimations for the second quarter in a row. Total investment services revenues reached nearly $3 billion for three months ending 2019, down 2% in comparison...

  • BNY Mellon and State Street – the global custody industry’s top rivals – apply remarkably different strategies in their front-to-back integration efforts. Industry news site Global Custodian has taken a deeper look.

  • BNY Mellon and State Street have dethroned each other throughout the decades for the crown of top custodian and fund administrator, and the age-old rivalry shows no signs of slowing down as the asset servicers enter a new era of competition. Both banking giants are...

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