31JUL19: Nickolaus Darsch has joined Ultimus Fund Solutions as senior vice president, business development. Prior to Ultimus, he held multiple roles within SS&C Technologies (including predecessor firms DST Systems, ALPS and Boston Financial Data Services) in sales, strategic relationship management, product and research groups.
Month: July 2019
Citi merges equities with PFSS business
30JUL19: Citi is merging its equities and prime, futures and securities services business lines. The motivation, in part, is in reaction to increasing client demand for end-to-end solutions supporting pre-trade, execution and post-trade. The new organisation – Equities and Securities Services (ESS) – will include broad trading and execution capabilities for electronic and complex structured…
UAE-based Introspect Capital appoints Northern Trust
29JUL19: Dubai-based asset manager Introspect Capital has appointed Northern Trust to provide global custody and brokerage services. Founded in 2017, Introspect Capital invests primarily in equities across the Middle East, North Africa and South Asia.
IQ-EQ buys Peru & Partners
29JUL19: IQ-EQ (formerly SGG Group), the Luxembourg-based administrator, has acquired Peru & Partners, a Paris-based consulting firm and fund administrator dedicated to the private equity market. The acquisition adds to IQ-EQ’s existing Paris-based business, Equitis. Established in 2009 by its principal, Sebastien Peru, the business will add fund administration, CFO services, GP and portfolio company…
JFSC fines SANNE GBP350K
29JUL19: The Jersey Financial Services Commission has fined SANNE, the C.I.-based administrator, GBP381,010 (USD470,000) for regulatory failings relating to SANNE Fiduciary Services Ltd. No party suffered losses as a result of the breach.
Northern Trust launches agency options trading desk
25JUL19: Northern Trust has established a dedicated options trading desk within its institutional brokerage business. The Chicago-based options desk provides institutional clients globally with options trading and streamlined reporting for prime brokerage. Options trading at Northern Trust is offered through an agency model with no principal trading operation. Northern Trust executes more than USD350bn notional…
Walk This Way – the legacy of Harry Samuel at RBC I&TS
24 July 2019: It is seven years since RBC paid around USD1bn to unwind itself from the investor services joint venture with Dexia that it struck in 2005. Business schools could probably put together a very entertaining case study about the RBC Dexia deal, and the many teachable moments that it yielded. For us, however,…
Leadenhall Capital Partners appoints U.S. Bank as Irish UCITS depositary
23JUL19: U.S. Bank has been appointed as depositary services provider for the Leadenhall UCITS ILS Fund PLC. In this role, U.S. Bank will provide asset safekeeping, fiduciary oversight and cash monitoring to Leadenhall Capital Partners LLP. Through its global fund services business, U.S. Bank will also act as the principal administrator of fund accounting, financial…
Hermes appoints Northern Trust for FX management in Ireland
23JUL19: Northern Trust has been appointed by Hermes Investment Management to provide currency management services for its Irish fund range. Ian Kennedy, COO, Hermes Investment Management, said: “Northern Trust have been able to automate our sophisticated currency management investment process and deliver comprehensive reporting and analytics for us. This has increased operational efficiency and enhanced…
Pzena IM extends NTRS relationship to Ireland
22JUL19: Pzena Investment Management, a U.S.-based money manager with USD37.4bn AuM, has selected Northern Trust as fund administrator and global asset servicing provider for its Ireland-domiciled UCITS funds. The appointment extends Pzena’s existing relationship in the U.S. and Australia with Northern Trust.