State Street Corporation Completes Acquisition of Mizuho Financial Group $604 Billion Global Custody & Related Business ex-Japan Comprising of $580 Billion Assets under Custody & $24 Billion Assets under Administration
3rd October | Hong Kong
State Street Corporation has completed the acquisition of Mizuho Financial Group $604 billion global custody & related business ex-Japan, comprising of $580 billion Assets under Custody & $24 billion Assets under Administration. Announcement (2/10/25): “State Street Corporation (NYSE: STT) announced today the completion of its transaction to transfer Mizuho Financial Group, Inc.’s (President & Group CEO: Masahiro Kihara) global custody and related businesses outside of Japan. State Street has taken on Mizuho’s offshore securities services businesses, including global custody services, Cayman, Bahamas and Luxembourg-domiciled cross-border fund servicing, a European securities agency business, and sub-custodian and securities lending services in the US. These businesses, which were organized in the Mizuho Trust & Banking (Luxembourg) S.A. and Mizuho Bank (USA) entities, support the overseas investments of Mizuho’s clients mainly domiciled in Japan, representing approximately US$580 billion in assets under custody and US$24 billion in assets under administration. As one of Japan’s largest financial institutions, Mizuho will continue to provide Japanese clients with trust and custody services for domestic assets and will collaborate with State Street for global custody and related services. State Street has operated in Japan for more than 35 years, with more than 500 employees across Tokyo and Fukuoka. The company offers Japanese institutional investors with a comprehensive suite of services, including trust, global custody, middle/back office outsourcing, data management, trading and financing solutions. Its operational center of excellence in Fukuoka has supported clients in Japan and across Asia Pacific for over a decade. State Street has also been present in Luxembourg for 35 years, providing services including fund administration, custody and transfer agency. Headquartered in Boston, Massachusetts, State Street operates in more than 100 geographic markets worldwide.”
“ State Street Corporation Completes Acquisition of Mizuho Financial Group $604 Billion Global Custody & Related Business ex-Japan Comprising of $580 Billion Assets under Custody & $24 Billion Assets under Administration “
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Joerg Ambrosius, President of Investment Services at State Street: “Since we announced the transaction in February this year, we have been collaborating very closely with our colleagues of Mizuho in analyzing their offshore securities servicing model to ensure a seamless transition for Mizuho’s clients. Mizuho’s decision to entrust State Street with their valued clients affirms their confidence in our dedication to product innovation and high-quality client service. We will continue to invest and strengthen our servicing capability as part of our commitment to the Japanese market. Our enhanced presence in Japan and Luxembourg will further our growth ambitions in these important markets.”
Tsutomu Yamamoto, Senior Managing Executive Officer, Head of Global Transaction Banking Unit at Mizuho: “We are pleased to announce the close of this transaction. We believe State Street’s global scale and capabilities will continue to support our clients’ offshore investments.”
State Street Corporation – State Street Corporation (NYSE: STT) is one of the world’s leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With US$49.0 trillion in assets under custody and/or administration and US$5.1 trillion* in assets under management as of June 30, 2025, State Street operates globally in more than 100 geographic markets and employs approximately 52,000 worldwide.
Mizuho Financial Group – Mizuho Financial Group, Inc. is one of the largest, full-service financial institutions in the world, with approximately 65,000 employees, 150 years of banking experience, and total assets of approximately US$2 trillion, according to S&P Global 2024. Mizuho offers comprehensive financial services to clients in 36 countries and 850 offices throughout the Americas, EMEA, and Asia. Mizuho combines extensive industry and local market expertise with a broad geographic presence and is a leading provider of retail banking, corporate and investment banking, capital markets, strategic advisory, fixed income, equities, research, and financing solutions.
State Street Corporation Completes Acquisition of Mizuho Financial Group $604 Billion Global Custody & Related Business ex-Japan Comprising of $580 Billion Assets under Custody & $24 Billion Assets under Administration
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