Custody banks add $1.2trn assets, BNY Mellon overtakes State Street
The combined total hit $93 trillion at end-September
The three largest US custody banks added $1.2 trillion of assets under custody and administration (Auca) in the third quarter, bringing the aggregate total to $93 trillion.
BNY Mellon added the most quarter-on-quarter, reporting an increase of $900 billion or 2.7%. The New York-based bank has also contributed the most year-on-year, with a rise of $2.3 trillion (7.1%) to $34.5 trillion.
Over the last 12 months, State Street added $1.9 trillion (5.9%) of Auca, raising its total to $34 trillion
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