State Street Completes Mizuho Global Custody Acquisition

State Street Mizuho Custody Acquisition signifies the successful finalization of State Street Corporation’s deal to obtain Mizuho Financial Group, Inc.’s overseas custody and associated operations beyond Japan. This milestone marks a significant step in expanding State Street’s global footprint and strengthening its position in the international securities services market.

Through this acquisition, State Street has assumed control of Mizuho’s offshore securities services, which include global custody operations, cross-border fund servicing in the Cayman Islands, Bahamas, and Luxembourg, as well as a European securities agency business and sub-custodian and securities lending services in the United States. 

These operations were previously managed under Mizuho Trust & Banking (Luxembourg) S.A. and Mizuho Bank (USA). Collectively, they supported the overseas investments of Mizuho’s primarily Japan-based clients, representing approximately US$580 billion in assets under custody and US$24 billion in assets under administration. This transition not only enhances State Street’s capabilities but also ensures Mizuho’s clients continue to receive high-quality, seamless services for their global investment needs. 

State Street Completes Mizuho Global Custody Acquisition

Joerg Ambrosius, president of Investment Services at State Street, expressed satisfaction with the successful completion, emphasizing that close collaboration between the two firms since February ensured a smooth transition. He noted that Mizuho’s trust in State Street demonstrates confidence in its innovation and client service standards. He further highlighted that State Street remains committed to strengthening its presence in Japan and Luxembourg, continuing to invest in servicing capabilities that align with the company’s growth strategy in key global markets. 

Similarly, Tsutomu Yamamoto, senior managing executive officer and head of Global Transaction Banking at Mizuho, stated that the completion of this deal reinforces Mizuho’s belief in State Street’s global scale and expertise, which will continue to benefit their clients’ offshore investments. While Mizuho will maintain its domestic trust and custody services in Japan, it will now collaborate with State Street for international custody and related solutions. 

Having operated in Japan for more than 35 years, State Street employs over 500 professionals across Tokyo and Fukuoka, offering a broad range of institutional investment services. Additionally, its Luxembourg operations, also established 35 years ago, continue to play a crucial role in delivering fund administration, custody, and transfer agency services globally.

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