State Street has agreed with Mizuho Financial Group, Inc. to acquire Mizuho’s global custody and related businesses outside Japan. These businesses support the overseas investments of Mizuho’s Japanese clients. Mizuho currently operates its global custody and related business outside 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. These entities represent combined assets under custody of approximately USD580bn and USD24bn in assets under administration.
