State Street completes transfer of Mizuho Financial Group
02 October 2025 SIBOS
Image: JanisAbolins/stock.adobe.com
State Street has announced the completion of its transaction to transfer Mizuho Financial Group’s 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) and Mizuho Bank (US) 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.
Joerg Ambrosius, president of Investment Services at State Street, says: “Since we announced the transaction in February this year, we have been collaborating very closely with our colleagues of Mizuho in analysing 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, adds: “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.”
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 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) and Mizuho Bank (US) 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.
Joerg Ambrosius, president of Investment Services at State Street, says: “Since we announced the transaction in February this year, we have been collaborating very closely with our colleagues of Mizuho in analysing 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, adds: “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.”
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.
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