Bny Mellon
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The banks in our annual ranking of the World’s Largest Global Custodians cite new requirements of asset managers as a top business driver.
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The firm’s custodied-asset total rose to $28.6 trillion in the 12 months through June.
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Custodian banks have been cutting costs with help from the likes of Trian Partners, the activist hedge fund firm founded by Nelson Peltz.
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Small custodians are holding their own against big rivals, partly because complex financial regulations have helped them develop niche services.