The bank states that after 6 September 2022 either party can terminate the transaction without penalty and says that despite a review of the deal, “there can be no assurance as to the timing or outcome of that review”.
Deal follows a similar tie-up signed last month between the two companies for fund admin services on a bitcoin-based ETF.
Initiative marks the custodian’s first ETF product in the region, with an Australian launch also expected in the coming months.
In December 2021, Gino Timperio assumed leadership of the securities finance division and has been working to converge the various collateral businesses across the bank. Global Custodian spoke to him about the benefits and challenges of doing so.
Bank provides fund administration and custody for scheme investing in offshore bitcoin-based fund.
Global custodian to provide ETF basket services, fund accounting, fund administration, order-taking and transfer agency services.
The investment management platform will use the injection of funds to bring on additional resources and identify new areas to expand its products and services.
Minimal exposure to Russia and Ukraine, new business wins and solid net inflows behind the custodian’s strong quarterly performance.
Global custodian to provide ETF basket services, fund accounting, fund administration, order-taking and transfer agency services.
BNY Mellon and State Street may be the two largest custodians in the world, but don’t for one moment believe that either is happy with second place in a business where size and success are easily measured. Here, Jonathan Watkins dives deep into the ongoing grappling for superiority, along with their different approaches, strategies and fortunes as both make a play for the throne in 2022.