Less than a year after the creation of its equities and securities services business, Citi has decided to refine the senior management structure. There will now be two leaders, a global head of equities and a global head of securities services. The latter will be run by Okan Pekin, covering custody and fund services, direct…
Month: May 2020
Modular AM appoints Northern Trust for new Asia funds
Northern Trust has been appointed by Modular Asset Management (Singapore) Pte. Ltd to provide custody, fund administration, middle-office outsourcing, collateral management and risk compliance monitoring services. Modular, which was spun out of Millennium Capital Management at the beginning of 2020, is a specialist Asian macro alternative investment management company licensed by the Monetary Authority of…
CACEIS completes first wave of fund migrations for CANDRIAM
CACEIS has completed the first of three fund migration waves for CANDRIAM, the French asset manager. This operation took place while all teams were working remotely. The migration involved 26 Luxembourg sub-funds accounting for some EUR10bn in assets. The operation involved a range of services, including depositary, custody, fund administration, transfer agency, fund distribution, securities…
CSC to open in Dublin
CSC, the privately owned U.S.-based provider of alternative fund administration and corporate services, has been licensed by the Central Bank of Ireland to establish a fund services operation in Ireland. Liam McHugh, managing director of fund services for CSC, will head the Dublin office, with a senior management team including David Barry as head of…
State Street to service first ETF for Water Island Capital
State Street has been appointed as the ETF servicing agent for Water Island Capital’s first ETF, the AltShares Merger Arbitrage ETF, tracking the Water Island Merger Arbitrage USD Hedged Index. State Street will provide services including basket creation, settlement, custody, fund accounting, electronic order-taking, financial reporting, and transfer agency. State Street has worked with WIC…
Centaur hires Jon Summers to head product in U.S.
Centaur Fund Services, the Ireland-based provider of services to the alternative fund industry, has expanded its U.S. management team with the addition of Jon Summers, who will take on the role of head of product for Centaur Fund Services U.S. Currently based in New Jersey, Summers has over 15 years’ experience in the fund administration…
BP2S promotes two managers for UK&ME O&T roles
Following the appointment of Simon Olenka as head of UK and the Middle East, BNP Paribas Securities Services has made two senior appointments. Mark Daisley is promoted to the role of head of client delivery for the UK, Middle East and ChanneI Islands. He joined BP2S in 2008. Alexandra Derrien is appointed head of IT…
Dougherty Mortgage selects SS&C for loan admin
Dougherty Mortgage LLC, a Minneapolis-based full-service mortgage banking firm, has selected SS&C as a technology and services partner. SS&C will provide cloud-based software and services for loan origination, servicing, asset management, investor reporting, insurance compliance and document management.
JTC to provide fund services for Ashburton Investments
Ashburton Investments, the C.I.-based asset management business of FirstRand Group, has appointed JTC to administer fund shareholder accounts. JTC will provide fund administration and fund accounting services to Ashburton Investments’ investors in its Jersey-domiciled funds. JTC, which recently moved into the U.S. market with the acquisition of NES Financial, has USD130bn AuA.
Northern Trust launches cloud-based version of Online Report Center
Northern Trust has launched a new version of its most popular client-facing tool, Online Report Center, as a cloud-based service with a redesigned user interface, available through its Passport client portal. New features include: Enhanced scheduling and interactive reporting and report packaging capabilities; Event-based and time-based report generation triggers; and Secure email attachments, email notifications,…