BlackRock Moves $1 Trillion in Custodial Assets from State Street to JPMorgan
In a rare move, BlackRock Inc., the world’s largest asset manager, announced they are migrating more than US$ 1 trillion of its assets from the custody of State Street Corporation to its competitor JPMorgan Chase & Co. Ultimately, the decision was to lower costs for BlackRock’s clients. The custodial deal was one of the biggest shifts of custodial assets ever. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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