State Street Onboards Mizuho's Global Custody Business
Boston-headquartered State Street has completed the transfer of Tokyo-based Mizuho’s global custody business after first announcing the acquisition earlier this year.
State Street has completed the transfer of Mizuho’s offshore securities services businesses, according to a statement. They include global custody services, Cayman, Bahamas and Luxembourg-domiciled cross-border fund servicing, a European securities agency business, and sub-custodian and securities lending services in the US.
In total, they represent approximately $580 billion in assets under custody and $24 billion in assets under administration from clients mainly domiciled in Japan.
Future Arrangement
Moving forward, Mizuho will continue to provide Japanese clients with trust and custody services for domestic assets while collaborating with State Street for global custody and related services.
«We will continue to invest and strengthen our servicing capability as part of our commitment to the Japanese market. Our enhanced presence in Japan and Luxembourg will further our growth ambitions in these important markets,» said Joerg Ambrosius, president of investment services at State Street.
The deal was first announced in February 2025.
