State Street falls behind in the custody assets race
The gap between BNY Mellon and State Street rose to $2.8 trillion at end-June
BNY Mellon’s assets under custody and administration (Auca) grew 3% in Q2 2019, helping the bank to extend the lead over its main rival, State Street, which posted a more moderate increase of 0.3%.
Total Auca at BNY Mellon stood at $35.5 trillion, up $1 trillion quarter-on-quarter and $1.9 trillion year-on-year. State Street added just $111 billion to its asset pool of $32.8 trillion in Q2 2019, and reported a reduction of $1.1 trillion compared with the year-ago quarter.
The gap between the
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