Global custody market tops $50 trillion – survey
GLOBAL – The total global market for global custody has risen to 50 trillion dollars (42.4 trillion euros), according to a new survey.
Globalcustody.net surveyed more than 40 providers and found they account for more than 50 trillion dollars of assets. In mid-2000 the firm surveyed 24 providers and found they had 37 trillion dollars under custody.
According to the report, State Street has the most worldwide assets under custody at 8.8 trillion dollars – the figure includes its 1.5-billion-dollar acquisition of Deutsche Bank’s Global Securities Services arm.
The Bank of New York is second at 7.9 trillion dollars and J P Morgan third at 6.9 trillion dollars.
The rest of the top ten is Citibank, Mellon Group, BNP Paribas Securities Services, UBS, Northern Trust, HSBC Global Investor Services and Societe Generale.
Of the total assets reported, seven trillion dollars was attributable to the larger survey, the report said.