After a brief hiatus where State Street won the award for leading custody bank in 2002, JPMorgan has returned to the top of the tree, landing its third award in four years.
State Street, the world’s largest player by assets under custody, and Bank of New York, the custody specialist, remain fierce competitors. State Street further bolstered its presence with its $1.5 billion purchase of Deutsche Bank’s custody business, in the process leapfrogging Bank of New York to become the biggest player, with nearly $8 trillion of custody assets.
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