Custodians Adapt to a Changing Environment
Global Finance › Vol. 18 Nbr. 11, December 2004
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Summary
Experts in global custody gathered at Global Finance's offices to discuss the challenges and opportunities in their markets. Padelford Lattimer, first vice president, of Mellon says that among custody-only providers we expect to see more consolidation. Firms that are offering the global range of services, though, are a totally new ball game. Mellon provides a much broader range of information services. There is a whole different sharing of risk. The way that we price and structure fees for the businesses that we are in now is very different. Even the definition of scale has changed: Assets under custody are a certain part of that, but how you use technology, the caliber of your people, the breadth of your product set all come into play in really describing the scale that you have.
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Custodians Adapt to a Changing Environment
GLOBAL FINANCE: There are new and more powerful forces pushing consolidation today. What impact will this have on your business and your customers' businesses?
PADELFORD LATTIMER, first vice president, Mellon: Among custody-only providers we expect to see more consolidation. Firms that are offering the global range of services, though, are a totally new ball game. We provide a much broader range of information services. There is a whole different sharing of risk. The way that we price and structure fees for the businesses that we are in now is very different. Even the definition of scale has changed: Assets under custody are a certain part of that, but how you use technology, the caliber of your people, the breadth of your product set all come into play in really describing the s...See the full content of this document
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