[Ranking] TOP 25 Asset Management & Custody Banks / Finance Companies Q3/2023
Intro
Asset Management & Custody Banks play a critical role in the worldwide economy, serving as the financial backbone for individuals, businesses, and institutions alike. These companies specialize in managing and safeguarding assets, providing a range of services such as investment management, custody services, and securities lending.
With their profound influence, Asset Management & Custody Banks have a ripple effect across diverse sectors, impacting everything from retirement savings to corporate financing. Their ability to allocate capital efficiently and effectively has a direct impact on economic growth, job creation, and overall market stability.
The economic magnitude of the Asset Management & Custody Banks industry is staggering. In recent years, the industry has witnessed remarkable growth, with global assets under management reaching trillions of dollars. As economies around the world continue to develop and individuals seek professional management of their wealth, the industry is expected to experience further expansion.
Recent trends, breakthroughs, and obstacles are actively shaping the Asset Management & Custody Banks industry. Rapid advancements in technology have led to the rise of robo-advisors and digital wealth management platforms, changing the way investors access and manage their assets. Additionally, the industry faces challenges such as regulatory changes, market volatility, and increasing competition.
The landscape of Asset Management & Custody Banks is ever-changing, characterized by constant innovation and adaptation. As new players enter the market and established firms evolve their strategies, the industry continues to evolve. Exploring the leading companies in this dynamic sector provides valuable insights into the trends and developments shaping the future of finance.
Ranking
#25 State Street Corporation
Employees: 39K
Revenue: 10.6B$
Website: https://www.statestreet.com
Description: State Street Corporation, headquartered in Boston, United States, is a leading player in the Asset Management & Custody Banks industry. Founded in 1792, State Street offers a wide range of services including investment management, research and trading, and investment servicing. With approximately 39,000 employees, the company operates globally and serves institutional investors, including mutual funds, pension funds, and insurance companies. State Street manages trillions of dollars in assets and provides custody and administration services for over 10,000 financial institutions. The company is committed to helping clients navigate the financial markets and achieve their investment objectives through innovative solutions and industry-leading expertise.
#24 Royal Bank Of Canada
Employees: 85K
Revenue: 12B$
Website: https://www.rbc.com
Description: The Royal Bank Of Canada (RBC) is a leading player in the Asset Management & Custody Banks industry. Headquartered in Toronto, Canada, RBC has a long-standing history, being founded in 1864. With a workforce of approximately 85,000 employees, RBC operates globally to provide a range of financial services including asset management and custody banking. The company's website serves as a comprehensive platform for clients to access their services and stay updated on financial news and insights. RBC is highly regarded for its expertise in managing and safeguarding assets, catering to both institutional and individual investors. With annual revenue amounting to 12 billion US dollars, RBC continues to strengthen its position as a prominent player in the finance industry.
#23 BlackRock Inc.
Employees: 16K
Revenue: 14B$
Website: https://www.blackrock.com
Description: BlackRock Inc. is a leading asset management company headquartered in New York City, United States. Founded in 1988, the company has established itself as a major player in the finance industry. With approximately 16,000 employees, BlackRock manages a diverse range of assets and offers investment solutions to institutional and individual clients worldwide. The company's expertise lies in asset management and custody services, providing clients with innovative investment strategies and access to a wide range of financial products. BlackRock's commitment to delivering superior performance and long-term value has contributed to its success in generating $14 billion in revenue.
#22 Bank Of New York Mellon Corporation
Employees: 50K
Revenue: 16B$
Website: https://www.bnymellon.com
Description: Bank of New York Mellon Corporation operates in the Asset Management & Custody Banks industry in the finance sector. Headquartered in New York City, United States, the company was founded in 1784. With a workforce of approximately 50,000 employees, Bank of New York Mellon provides a wide range of financial services including asset management, wealth management, and custody services. The company's services cater to institutional investors, corporations, and individual clients worldwide. Bank of New York Mellon generates an annual revenue of around 16 billion US dollars. Through its comprehensive suite of financial solutions, the company plays a crucial role in the global finance industry.
#21 Banco Bradesco SA
Employees: 100K
Revenue: 17.5B$
Website: https://www.bradescori.com.br/
Description: Banco Bradesco SA, headquartered in Osasco, Brazil, is a leading player in the Asset Management & Custody Banks industry. Founded in 1943, the company has a workforce of approximately 100,000 employees. With annual revenue of 17.5 billion dollars, Banco Bradesco SA offers a wide range of services including asset management, custody services, and other financial solutions. The company's strong presence in South America, particularly in Brazil, makes it a key player in the regional finance sector. Through its website, https://www.bradescori.com.br/, Banco Bradesco SA provides easy access to its services and comprehensive information for its clients and stakeholders.
#20 Australia And New Zealand Banking Group Limited
Employees: 35K
Revenue: 20B$
Website: https://www.anz.com/
Description: The Australia and New Zealand Banking Group Limited (ANZ) is a prominent player in the Asset Management & Custody Banks industry. Headquartered in Melbourne, Australia, ANZ has a rich history dating back to its establishment in 1835. With approximately 35,000 employees, the company operates on a large scale within the industry. ANZ's revenue stands at a substantial 20 billion US dollars. The company offers a range of financial services, including asset management and custody banking, catering to the needs of its diverse clientele. ANZ's commitment to excellence and its extensive presence in the finance sector make it a key player in the industry.
#19 Bank Of Montreal
Employees: 45K
Revenue: 24B$
Website: https://www.bmo.com
Description: Bank of Montreal (BMO) is a leading asset management and custody bank based in Montreal, Canada. With its headquarters in North America, BMO has been operating in the finance industry since its establishment in 1817. The bank currently employs approximately 45,000 individuals globally, making it one of the major players in the sector. BMO's focus on asset management and custody services positions it as a reliable partner for individuals and institutions seeking professional financial management and secure custodial services. With a revenue of 24 billion US dollars, BMO demonstrates its strong presence and success in the industry.
#18 Deutsche Bank AG
Employees: 85K
Revenue: 26B$
Website: https://www.db.com
Description: Deutsche Bank AG, headquartered in Frankfurt, Germany, is a leading global financial institution operating in the Asset Management & Custody Banks industry. The bank was founded in 1870 and currently employs approximately 85,000 people worldwide. With a revenue of around 26 billion dollars, Deutsche Bank offers a wide range of services in asset management and custody, serving individual and institutional clients. The bank's expertise in wealth management, investment banking, and global markets makes it a prominent player in the finance industry. Deutsche Bank continues to innovate and provide comprehensive financial solutions to its diverse client base.
#17 UBS Group AG
Employees: 70K
Revenue: 28.9B$
Website: https://www.ubs.com
Description: UBS Group AG, headquartered in Zurich, Switzerland, is a leading player in the Asset Management & Custody Banks industry. With a history dating back to 1862, UBS has established itself as a prominent financial institution. The company operates globally, providing a wide range of asset management and custody banking services to its clients. UBS offers investment solutions, wealth management, and financial advice to individuals, corporations, and institutions. With approximately 70,000 employees, UBS is committed to delivering innovative and tailored solutions to meet the diverse needs of its clients. In 2020, UBS generated a revenue of 28.9 billion USD, further solidifying its position as a key player in the finance industry.
#16 Barclays PLC
Employees: 80K
Revenue: 29B$
Website: https://www.barclays.com/
Description: Barclays PLC, headquartered in London, United Kingdom, is a leading asset management and custody bank in the finance industry. Founded in 1690, the company has a workforce of approximately 80,000 employees. With a revenue of 29 billion US dollars, Barclays PLC offers a wide range of asset management and custody services to its clients. The company focuses on providing investment management, wealth management, and custodial services to individual and institutional investors. Barclays PLC's asset management division offers various investment strategies, including equities, fixed income, multi-asset, and alternative investments. As a prominent player in the finance industry, Barclays PLC aims to deliver innovative and tailored solutions to meet the diverse needs of its clients.
#15 Banco Do Brasil SA
Employees: 100K
Revenue: 30B$
Website: https://www.bb.com.br/
Description: Banco Do Brasil SA, headquartered in Brasília, Brazil, is a leading player in the Asset Management & Custody Banks industry. Founded in 1808, the company has a rich history and extensive experience in the finance sector. With approximately 100,000 employees, Banco Do Brasil SA offers a wide range of asset management and custody services to individual and institutional clients. The company's impressive revenue of 30 billion dollars reflects its strong position in the industry. Banco Do Brasil SA's commitment to providing high-quality financial solutions has made it a trusted name in the finance sector in Brazil and beyond.
#14 Toronto-Dominion Bank
Employees: 85K
Revenue: 30B$
Website: https://www.td.com
Description: Toronto-Dominion Bank is a leading financial institution operating in the Asset Management & Custody Banks industry. Headquartered in Toronto, Canada, the bank offers a wide range of services including investment management, wealth management, and custodial services. With a history dating back to 1855, the bank has established itself as a trusted partner for individuals, businesses, and institutions seeking financial solutions. Toronto-Dominion Bank has a workforce of approximately 85,000 employees, who contribute to its success and help serve millions of customers worldwide. The bank generates an annual revenue of around 30 billion US dollars, reflecting its strong position in the finance industry.
#13 Credit Suisse Group AG
Employees: 45K
Revenue: 34.8B$
Website: https://www.credit-suisse.com
Description: Credit Suisse Group AG, headquartered in Zurich, Switzerland, is a prominent player in the Asset Management & Custody Banks industry. With a history dating back to 1856, the company has established itself as a leading financial institution. Credit Suisse offers a wide range of asset management services, helping individuals and institutions manage their investments and achieve their financial goals. The company's expertise spans across various asset classes, including equities, fixed income, alternative investments, and multi-asset solutions. With a workforce of approximately 45,000 employees, Credit Suisse serves clients worldwide, providing tailored investment solutions and comprehensive custody services. In 2020, the company reported a revenue of 34.8 billion dollars, solidifying its position as a key player in the finance industry.
#12 Itau Unibanco Holding SA
Employees: 95K
Revenue: 35.3B$
Website: https://www.itau.com.br/
Description: Itau Unibanco Holding SA is a leading financial institution in South America, operating in the Asset Management & Custody Banks industry. Headquartered in Sao Paulo, Brazil, the company was founded in 1924. With a workforce of approximately 95,000 employees, Itau Unibanco offers a wide range of financial services, including asset management, investment banking, and custodial services. The company generates an impressive annual revenue of 35.3 billion USD. Itau Unibanco's strong presence in the finance industry and its commitment to providing innovative solutions have made it a trusted partner for individuals and businesses seeking reliable financial services in Brazil and beyond.
#11 Morgan Stanley
Employees: 60K
Revenue: 41.4B$
Website: https://www.morganstanley.com
Description: Morgan Stanley is a leading global financial services firm headquartered in New York City. With a history dating back to 1935, the company operates in the Asset Management & Custody Banks industry. Morgan Stanley offers a range of investment management services, including asset allocation, portfolio management, and investment advisory services. The firm also provides custody and safekeeping of clients' financial assets, ensuring their security and facilitating efficient transactions. With approximately 60,000 employees, Morgan Stanley generates annual revenue of 41.4 billion dollars. The company's dedication to providing innovative financial solutions has established its position as a trusted partner in the finance industry.
#10 Goldman Sachs Group Inc.
Employees: 40K
Revenue: 42B$
Website: https://www.goldmansachs.com
Description: Goldman Sachs Group Inc. is a leading financial institution in the Asset Management & Custody Banks industry. Headquartered in New York, United States, the company was founded in 1869. With approximately 40,000 employees, Goldman Sachs offers a wide range of financial services including investment banking, securities, and investment management. The company manages assets for various institutional and individual clients globally, providing expertise in areas such as equities, fixed income, and alternative investments. Goldman Sachs is known for its strong focus on innovation and technology-driven solutions to meet the evolving needs of its clients. With a revenue of 42 billion dollars, the company has established itself as a prominent player in the finance industry.
#9 Banco Santander SA
Employees: 200K
Revenue: 45B$
Website: https://www.santander.com/
Description: Banco Santander SA, headquartered in Madrid, Spain, is one of the leading players in the Asset Management & Custody Banks industry. Founded in 1857, the company has a strong presence in Europe and operates globally. With approximately 200,000 employees, Banco Santander offers a wide range of financial products and services, including asset management and custody solutions. The company's expertise in this industry allows it to provide comprehensive investment management services to individual and institutional clients. Banco Santander has achieved significant revenue growth, with an annual revenue of 45 billion dollars. With a solid reputation and extensive global network, Banco Santander continues to be a prominent player in the finance industry.
#8 BNP Paribas SA
Employees: 200K
Revenue: 47.8B$
Website: https://www.bnpparibas.com/
Description: BNP Paribas SA, headquartered in Paris, France, is a leading player in the Asset Management & Custody Banks industry. With a history dating back to 1848, the company has grown to become one of the largest banks in Europe. BNP Paribas offers a wide range of services in the finance industry, including asset management, securities services, and investment banking. The company's asset management division provides investment solutions to institutional and individual clients, managing a diverse range of assets. BNP Paribas also offers custody and clearing services, providing clients with safekeeping and administration of their financial assets. With a workforce of approximately 200,000 employees, BNP Paribas generates significant annual revenue of 47.8 billion dollars.
#7 HSBC Holdings Plc
Employees: 235K
Revenue: 55.4B$
Website: https://www.hsbc.com
Description: HSBC Holdings Plc, headquartered in London, United Kingdom, is a leading global bank operating in the Asset Management & Custody Banks industry. Established in 1865, HSBC has a workforce of 235,000 employees worldwide. With a revenue of 55.4 billion US dollars, HSBC offers a comprehensive range of financial services including retail banking, commercial banking, investment banking, and wealth management. The bank provides asset management solutions and custody services to institutional clients, corporations, and high net worth individuals, helping them navigate the complexities of the financial markets and achieve their investment goals. HSBC's global presence and extensive expertise make it a trusted partner for clients seeking reliable and innovative financial solutions in the asset management and custody banking sector.
#6 Citigroup Inc.
Employees: 210K
Revenue: 74B$
Website: https://www.citigroup.com
Description: Citigroup Inc., headquartered in New York City, is a leading global financial institution operating in the Asset Management & Custody Banks industry. Founded in 1812, Citigroup has established itself as a prominent player in the finance sector. With approximately 210,000 employees worldwide, the company offers a wide range of financial services, including asset management and custody services. Citigroup's asset management division provides investment strategies and solutions to institutional and individual clients, managing their portfolios and helping them achieve their financial goals. The company's custody services involve safeguarding and administering assets on behalf of clients, ensuring the secure and efficient management of their financial assets. With a revenue of 74 billion dollars, Citigroup is a major player in the finance industry, delivering innovative financial solutions and contributing to the growth and development of the global economy.
#5 Wells Fargo & Company
Employees: 200K
Revenue: 85B$
Website: https://www.wellsfargo.com
Description: Wells Fargo & Company is a prominent player in the Asset Management & Custody Banks industry. Headquartered in San Francisco, United States, Wells Fargo has been operating since its establishment in 1852. With a workforce of approximately 200,000 employees, the company offers a wide range of financial services, including asset management and custody banking. Wells Fargo generates substantial revenue of 85 billion USD, further solidifying its position as a leading player in the finance industry.
#4 JPMorgan Chase & Co.
Employees: 200K
Revenue: 115B$
Website: https://www.jpmorganchase.com/
Description: JPMorgan Chase & Co. is a leading global financial services firm operating in the Asset Management & Custody Banks industry. Headquartered in New York, United States, the company was founded in 1799. With approximately 200,000 employees, JPMorgan Chase & Co. provides a wide range of financial services to clients worldwide. The company offers asset management services, helping clients optimize their investment portfolios and achieve their financial goals. They also specialize in custody banking, providing safekeeping and administration of financial assets for institutional investors. JPMorgan Chase & Co. is known for its expertise in the finance industry and its commitment to delivering innovative solutions to meet the evolving needs of its clients. With annual revenue of 115 billion dollars, the company is a major player in the global finance sector.
#3 Bank Of China Limited
Employees: 310K
Revenue: 132B$
Website: https://www.boc.cn/en/index.html
Description: Bank of China Limited operates in the Asset Management & Custody Banks industry in China. Headquartered in Beijing, the bank was founded in 1912. With a workforce of approximately 310,000 employees, the bank offers a range of financial services including asset management and custody services. Bank of China Limited generates an annual revenue of 132 billion USD. The bank plays a significant role in the finance sector in China, providing trusted financial services to individuals, corporations, and institutions.
#2 China Construction Bank Corporation
Employees: 370K
Revenue: 135B$
Website: https://www.ccb.com
Description: China Construction Bank Corporation is a leading player in the Asset Management & Custody Banks industry. Headquartered in Beijing, China, the company was founded in 1954. With a workforce of approximately 370,000 employees, China Construction Bank Corporation has established itself as a major financial institution in the region. The company generates an impressive revenue of 135 billion US dollars. China Construction Bank Corporation offers a wide range of financial services, including asset management and custody banking. Their expertise in these areas allows them to effectively manage and safeguard assets on behalf of their clients, contributing to the growth and stability of the finance industry in China and beyond.
#1 Industrial And Commercial Bank Of China Limited
Employees: 445K
Revenue: 177.3B$
Website: https://www.icbc.com.cn/icbc/
Description: Industrial And Commercial Bank Of China Limited, headquartered in Beijing, China, is a prominent player in the Asset Management & Custody Banks industry. Founded in 1984, ICBC has established itself as one of the largest banks in the world. With a workforce of approximately 445,000 employees, ICBC offers a wide range of financial services, including asset management and custody services. The bank's extensive network and expertise in the finance sector have contributed to its impressive annual revenue of 177.3 billion dollars. ICBC's commitment to providing innovative financial solutions and maintaining a strong presence in the global market solidifies its position as a leader in the finance industry.
Summary
In the sub-industry of Asset Management & Custody Banks, several companies have emerged as leaders in the field. These companies have achieved impressive rankings and significant accomplishments in the finance sector.
One unexpected finding is the consistent performance of these top companies, even in challenging economic conditions. Their ability to navigate market fluctuations and deliver consistent returns sets them apart from their competitors.
Among the premier companies in this sub-industry are BlackRock, JPMorgan Chase, and Bank of New York Mellon. These companies have established themselves as industry giants, with extensive asset management and custody services.
One shared element among these leading firms is their commitment to innovation and technological advancements. They have embraced digital platforms and sophisticated analytics to enhance their investment strategies and provide better services to their clients.
What differentiates these eminent companies from their rivals is their global reach and extensive network. They have a presence in multiple countries and cater to a diverse client base, including institutional investors, corporations, and high-net-worth individuals.