Custody banks

Fed proposal is at odds with the one offered by the FDIC and OCC; judge wants to dispel the “myth” that student loans can’t be expunged in bankruptcy.

The bank sees digital assets as part of the future and "we want to be there when this happens," says Ralph Achkar, head of digital product development and innovation.

Todd Gibbons, who succeeded Charlie Scharf in September, said tech investments give the custody bank a competitive edge and make it more efficient.

Bank of New York Mellon’s quick decision to elevate the longtime executive to succeed Charles Scharf on an interim basis was well received. Will the board keep him, or search for an outsider for the long term?

JPMorgan Chase's custody services unit has emerged as an "industry powerhouse" under the Heitsenrether's leadership.

Second-quarter earnings at the Chicago custody bank were flat as increased interest costs offset better yields and fee income held steady.

Subhankar Sinha, the bank’s new head of blockchain, says its partnership with Bakkt is part of a larger effort to figure out what it would look like to be a custodian for digital assets.

Some banks have backed away from the technology, but Northern Trust, State Street and JPMorgan Chase are among those actively working on blockchain projects.

Money managers, which are critical to the success of State Street and Northern Trust, are aggressively moving cash into higher-rate products.

Bank of New York Mellon's clients shifted more of their deposits to higher-rate products. It was one of several trends that hurt the custody bank's bottom line.