State Street Expands Global Custody Footprint With Acquisition Of Mizuho's Global Custody Business; Deal Terms Not Disclosed

Mizuho currently operates its global custody and related business outside of Japan through its local subsidiaries Mizuho Trust & Banking (Luxembourg) S.A., owned by Mizuho Trust & Banking Co., Ltd., and Mizuho Bank (USA), a wholly-owned subsidiary of Mizuho Bank, Ltd. Both of these entities represent combined assets under custody of approximately US$580 billion and US$24 billion in assets under administration1.

After this transaction, Mizuho will leverage its expertise and network as one of Japan's largest financial institutions to continue providing Japanese clients with trust and custody services for their domestic assets and will collaborate with State Street for global custody and related services.