State Street shrinks gap in the custody assets race
Boston-based bank reports largest quarterly increase among top US custodians
Assets under custody and administration (Auca) at the three largest US custody banks rose in the third quarter of the year, hitting an all-time high.
Total Auca stood at $120.6 trillion at end-September, up 1% quarter on quarter, and 16% year on year.
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State Street led the charge with a quarterly increase of $740 billion (2%) to $43.4 trillion. BNY Mellon followed suit with a $300 billion (1%) increase to $45.3 trillion. On the flip side, JP Morgan’s Auca fell $160 billion (0.5%) to
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