Hex Trust, a Hong Kong-based digital assets custody platform provider, has hired Colin Brooks as an advisor. Brooks worked at HSBC for most of his career, mainly in Asia, latterly as global head of sub-custody and clearing. He also spent five years at Standard Chartered before retiring earlier this year.
Month: July 2020
Northern Trust wins three European insurance mandates
Northern Trust has won three new mandates from European insurers. Hannover Re, the German reinsurer, appointed Northern Trust to provide collateral management and global custody services for its longevity risk transfer business. AND-E, a European subsidiary of the Japanese insurance group MS&AD, appointed Northern Trust to provide global custody and related asset servicing solutions for…
BNY Mellon’s Kate McCabe joins State Street as AO sector sales lead
State Street has hired Kate McCabe as sector sales lead for its asset owners team, based in the U.S. McCabe joins from BNY Mellon, where she spent a total of 25 years in two stints, most recently as U.S. head of asset owner business development. Last year State Street hired Bob Dollard from BNY Mellon…
Fund Recs hires Mark Lacana as chief revenue officer
Fund Recs, the Ireland-based reconciliation platform for the global funds industry, has appointed Mark Lacana as its chief revenue officer. He joins from AltaReturn and is based in Boston, reporting to Alan Meaney, Fund Recs CEO.
DMS buys Switzerland’s Oligo Fund Services
The DMS Group, a Cayman-based provider of governance, risk and compliance services, has acquired Oligo Swiss Fund Services, a Swiss FINMA-accredited fund services company. Oligo is authorised and regulated to represent foreign funds distributed in Switzerland with a service that includes fund representation, distribution services and arrangements with the paying agent bank. Oligo currently works…
Northern Trust wins Azimut mandate for DIFC funds
Northern Trust has been appointed by Azimut (DIFC) Limited to provide asset servicing and portfolio reporting for its Dubai International Financial Centre (DIFC) funds in the Middle East. Northern Trust will deliver portfolio reporting and local servicing in the local time zone directly from the United Arab Emirates. Azimut (DIFC) Limited is part of the…
FNZ and State Street to collaborate on wealth manager servicing
FNZ and State Street are collaborating on a new wealth manager servicing venture. FNZ will acquire a majority stake in State Street’s wealth manager services (WMS) business, with State Street retaining a minority interest. Terms of the transaction, which is expected to close in Q4 2020, are not being disclosed. Upon full implementation, the new…
BP2S automates key asset servicing documentation with NLU and IDP
BNP Paribas Securities Services has automated the processing of key asset servicing documentation, part of the group’s digital transformation programme. The initiative, which took 12 months to implement, aims to enhance back office operational efficiency, increase straight-through processing rates and reduce services turn-around times for clients. Using Natural Language Understanding (NLU) and machine learning, including…
Alter Domus hires State Street’s Paul Woods to head North America
Alter Domus, the Luxembourg-based provider of fund and corporate services, has appointed Paul Woods as regional executive for North America, with a brief to expand the group’s presence in the North American private capital markets. Based in Boston, Paul will report directly to Doug Hart, CEO, and joins the group executive board. Woods joins from…
FAB adds to securities services team in Abu Dhabi
First Abu Dhabi Bank has announced a number of hires for its securities services business. Francis Dassou joined as managing director. He spent 13 years at HSBC, eight in Luxembourg, and latterly in the MENA region as head of securities services, Bahrain, and regional head of global custody and fund services, MENAT. Dassou is responsible…