As the country’s two largest custody banks wait for interest rates to improve to spur organic growth, both continue to jockey for position as the industry consolidates.

Bank of New York Mellon Corp. [BK] gathered significant scale with a pair of deals in the past four months, but State Street Corp. [STT] is looking for more deals this year.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access