custody-bank
BlackRock jilts State Street, moves $1 trillion in custody assets to JPMorgan
January 25, 2017 by admin · Leave a Comment
State Street Corp on Wednesday reported a 3.4 percent drop in fourth-quarter revenue and said it lost more than $1 trillion in custody assets to JPMorgan Chase & Co Inc , sending State Street stock tumbling as much as 7.5 percent. State Street is the world's No. 2 custody bank with $28.8 trillion in assets under custody and administration.
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BlackRock jilts State Street, moves $1 trillion in custody assets to JPMorgan