BlackRock splits custody business for Irish-domiciled ETFs

February 14, 2024--BNY Mellon joins rival State Street as a depositary and administration service provider for the Irish ETFs
BlackRock has appointed BNY Mellon as an additional custodian for €673bn Dublin-domiciled iShares exchange traded funds, splitting custody for the business between two post-trade service providers.

The US bank and custody giant joins domestic rival State Street as a depositary and administration service provider for the Irish ETFs.

The $10tn US fund giant said the move mitigated risk and created efficiency.