JPMorgan Chase & Co., State Street Corporation, and Citigroup Inc., are Dominating the Global Middle Office Outsourcing Market in 2021

Global Middle Office Outsourcing Market is expected to grow with the CAGR of 10.1% in the forecast period of 2021 to 2028. The years considered for study are as mentioned below.

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Global middle office outsourcing market is a fragmented market, which includes specific number of key players as well as local players. The market has witnessed increased strategic developments owing to favourable market scenario.

The major players dealing in global middle office outsourcing market are introducing strong range of product portfolio. This helped companies to maximize the sales with enhanced product portfolio.

For instance,

  • In May 2020, THE BANK OF NEW YORK MELLON CORPORATION announced a new client named Bridgewater Associates. Under this, BNY Mellon provided middle and back-office outsourcing services for approximately USD 125 billion in assets. These services include a fully integrated data warehouse, trade processing, portfolio accounting, and derivatives processing. This has helped the company to enhance its customer base in the market.

JPMorgan Chase & Co., is the dominating player in Global middle office outsourcing market. The other key players existing in the market includes Accenture, BNP Paribas, GBST, JPMorgan Chase & Co., SS&C Technologies, Inc., Royal Bank of Canada, State Street Corporation, Citigroup Inc., THE BANK OF NEW YORK MELLON CORPORATION, CACEIS, Apex Group Ltd., Northern Trust Corporation, Linedata, Empaxis Data Management, Inc., Indus Valley Partners., BROWN BROTHERS HARRIMAN, and Genpact among others.

Middle Office Outsourcing Market JPMorgan Chase & Co.

JPMorgan Chase & Co. was founded in 1799 and is headquartered in New York, U.S. The company is engaged in designing and providing investment banking, financial services for consumers, and small businesses, commercial banking, financial transactions processing, and asset management. The business segments of the company include consumer & community banking (CCB), corporate & investment bank (CIB), commercial banking (CB), asset & wealth management (AWM). The market focused business segment is corporate & investment bank (CIB). The solution categories include asset management, securities services, commercial banking, treasury and payments and wealth management among others.

  • In April 2020, JPMorgan Chase & Co. announced a strategic alliance with Taulia to deliver unique and differentiated trade finance solutions for clients. This has helped JPMorgan’s clients for the long term, allowing them to inject and redeploy liquidity to their suppliers, ensuring continued operations. This has helped the company leverage Taulia’s industry-leading technology platform, data, and analytics to enhance and optimize corporate supply chains.

The company has presence in North America, Europe, Asia-Pacific, Middle East and Africa, and South America. In addition to it, the company also generates its revenue from the various subsidiary companies such as Chase Bank, JPMorgan Securities Inc., WePay, and others.

CITIGROUP INC.

Citigroup Inc. was founded in 1812 and is headquartered in New York, U.S. The company is engaged in developing and providing innovative financial services and products to the customers. The business segment of the company includes global consumer banking (GCB) and institutional clients group (ICG). The market focused business segment is institutional clients group (ICG). The service categories of the company include corporate banking, cash management, securities and fund services, trade solutions, and others. The market focused service category are securities and fund services.

  • In July 2020, Citigroup Inc. allied with BlackRock, through their Aladdin business. Through this alliance, Citigroup enhances the delivery of securities services to its clients. This has helped the company to provide outsourced middle-office services directly on a client’s instance of Aladdin for seamless integration with their front office, from trade confirmation to post settlement reconciliation.

The company has presence in North America, South America, Europe, Asia, and Middle East and Africa. In addition to it, the company also generates its revenue from the various subsidiary companies such as Citibank, Banamex, Citibank Australia, and among others.

STATE STREET CORPORATION

State Street Corporation was founded in 1972 and is headquartered in Massachusetts, U.S. The company is engaged in designing and providing innovative investment products and services to the customers. The solution categories of the company include collateral management, investment servicing, data and analytics, liquidity and ESG solutions, and others.

  • In April 2021, State Street Corporation acquired a new client named M&G Corporate Services Limited to provide outsourced middle office services. Under this, the company provided middle office services, including portfolio services, reference data, cash reporting, transaction management, asset servicing, and recordkeeping, relying upon BlackRock’s Aladdin platform. This has helped the company to enhance its customer base in the market.

The company has global presence in North America, Asia, Europe, South America, and Middle East and Africa. In addition, company also generates revenue through the subsidiary such as State Street Global Advisors, State Street International Holdings, and among others.