Custodial & Trust Services Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 12/5/2016
SIC Codes: 6091
NAICS Codes: 523991
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Custodial & Trust Services Industry Profile

Companies in this industry hold or manage assets for the benefit of an individual or business. Major companies include the custodial or trust operations of State Street Bank and Trust, Bank of New York Mellon, Northern Trust, JP Morgan Chase, and Citibank (all based in the US), as well as BNP Paribas and Society Generale (both based in France), and HSBC (the UK).

Worldwide, companies in the industry have about $125 trillion of assets under custody. Key global custody banking giants based in the US (Bank of New York Mellon, State Street, JPMorgan, and Citigroup) together account for about two-thirds of the world's custody industry, according to Forbes.

The US custodial and trust services industry includes about 2,400 establishments (single-location companies and units of multi-location companies) with a combined annual revenue of about $20 billion. The industry includes establishments such as bank trust offices, nondepository trust companies, and administrators of private estates.

Custodial & Trust Services is a part of the broader Asset Management industry, which is covered in a separate profile.

COMPETITIVE LANDSCAPE

Demand is driven by demographic and market trends such as the growing population of retirees and the accumulation of wealth and investable assets. The profitability of individual companies depends on the volume and performance of the assets they hold. Large companies have advantages in providing expertise in a wide range of custodian or trustee services. Small companies can ...

 
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