I hope BNYM is your next target and all the obnoxious, self -servant aholes who work for BNYM see how it feels to get their walking papers
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I remember the early 1980s when State Street was little more than a ho-e in the wall in a cut-rate run-down Boston open space where everything was cheaper than it looked, and it looked like a goodwill store. We laughed when we had to go there, but we had to as we were converting their customers to our shop.
Obviously they were engaged had a strategy. All of the odds were against them.
I think this company is a takeover target of Waste Management inc , not any financial firm
Yeah, SS is the cat's meow.
https://finance.yahoo.com/news/state-street-stt-agrees-pay-164004506.html
Northern Trust and BNP Paribas were also in the race to acquire Brown Brothers .With roughly $ 37.3 trillion in assets under custody, State Street would move ahead of Bank of New York Mellon and JPMorgan Chase.
“To be a top player in the custody space it is really about having scale and the best tech to track and retain your clients,” said Michael Brown, an analyst at Keefe, Bruyette and Woods.
Executives at rivals BNY Mellon and Northern Trust were asked during the Barclays conference if the move would spark more urgent competition within custody banking.
Jason Tyler, chief financial officer at Northern Trust, declined to comment on the company’s reported bid for BBH. But he expressed interest, depending on the cost, in finding another deal.
“If an opportunity comes up at a fair price, we’re all in,” he said.
On Tuesday, Northern Trust announced a smaller deal, which will give it an equity stake in Essentia Analytics. The latter company is attempting to use behavioral science to identify biases that impact investment performance.
During remarks at the Barclays conference, BNY Mellon CEO Gibbons hinted that the New York company would be less interested in a potential deal.
“We are focused on organic growth,” Gibbons said. “That doesn’t mean we won’t take into consideration any inorganic growth opportunities if they present themselves. The bar is very high."
SS to become largest custody bank post 3.5 billion $ deal because they were progressive and invested in the right place at the right time thinking of the future.