BNY Mellon renews global custody deal with Sweden’s AP7
The renewal continues a 14-year relationship between the two firms, after AP7 carried out a detailed procurement process that started in March last year.
The renewal continues a 14-year relationship between the two firms, after AP7 carried out a detailed procurement process that started in March last year.
The service coincides with a new Swedish law allowing listed companies to hold General Meetings and for shareholders to cast their vote without having to be physically present.
Regulatory and operational costs factors may require regional CSDs to band together and overcome these new pressures.
The Swedish bank is exploring new services with Brown Brothers Harriman as its assets under custody continue to pile up from the existing relationship.
Nordea sought to partner with a custody and fund administration provider that operates both in the Nordic market and in Luxembourg.