BNY wins £11bn depositary and custody services mandate from Valu-Trac

JPMorgan raised its price target for Bank of New York Mellon to $161 from $159, maintaining an 'overweight' rating. The stock has a 5-day change of -0.49%, a 1st Jan change of -4.17%, and a 23.97% increase over a longer period.

BNY Mellon agreed to buy its Dublin headquarters from Marlet Property Group for €140-165M. The 16,443sq m building will accommodate over 1,300 employees. BNY previously leased space and expanded before deciding to purchase. The deal reflects BNY's commitment to Ireland, according to its CFO.

Stablecoins, with a total supply of $303B, rely increasingly on traditional banks for growth. Regulation in the U.S., Europe, and Britain accelerates this trend, requiring stablecoin issuers to integrate with regulated banking systems. Major banks are forming consortia to issue stablecoins, while Circle's stock dropped 6% on this news. Projections suggest stablecoin market could reach $1.9T-$4T by 2030, but risks like liquidity strains remain.

UK companies have spent over £1.3 billion in 2026 buying their own offices, driven by falling prices and rising rents. Barclays' £750 million deal for its HQ was the largest. High fit-out costs and supply shortages also motivate purchases. Other buyers include State Street, State Bank of India, Bank of New York Mellon, and Lloyds Banking Group.

Q2 earnings for custody banks showed revenues 3.2% above estimates. BNY (NYSE:BNY) reported $5.7B revenue, up 13.3% YoY, beating expectations. Hamilton Lane (NASDAQ:HLNE) saw 56.5% revenue growth, outperforming estimates. StepStone Group (NASDAQ:STEP) missed expectations with a 3.9% shortfall. Federated Hermes (NYSE:FHI) and State Street (NYSE:STT) also reported strong results.

Nvidia said it will partner with six private capital firms, including Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR, to finance AI infrastructure via vehicles worth over $500 billion, after funding customers with its own balance sheet. The article also cites Saudi Arabia’s data-center debt needs and US local data-center construction bans exceeding 500 in July.