Custody assets ballooned at State Street and BNY Mellon in 2019

Custody banks BNY Mellon and State Street disclosed 4% increases to assets under custody and administration (Auca) over the last quarter of 2019. Year-on-year, Auca rose 12% at the former and by 9% at the latter.

Total Auca at BNY Mellon stood at $37.10 trillion and at State Street $34.36 trillion in Q4.

  // Who said what

“Although the higher market levels were a bigger driver, we did see good organic Auca growth throughout the course of the year” – Michael Santomassimo, chief financial

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