Downward Custody Fee Trend is Slowing!
... in the Global Securities Markets
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Last year, major industry consolidations heightened market competition. The survival instinct to retain clients was a major force driving custody fees downward. In the current business environment, the industry remains highly competitive, with industry consolidations expected to continue. [Ed. Note. In early December, Morgan Stanley acquired portions of Barclays global custody business. Again in early January '97, industry rumors about Bank of New York and State Street flurried about.]
"Irrationality prevails in the world of custody fees. No wonder we're seeing a major consolidation of providers. Unfortunately, clients often get what they pay for and customer service is overlooked in the quest to save fee dollars. "
The complete article on custody fee trends is available to Yearbook subscribers at Custody Fees.
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