A major coup for Charles River Development, which is owned by State Street, where Vanguard has consolidated management of its taxable money market funds on the cloud-based Charles River Investment Management Solution. Vanguard is already live on the platform, using Charles River IMS across the investment process, from pre-trade to post-trade and compliance. Paul Malloy,…
Month: August 2020
Nottingham gets SEC green light for non-transparent ETF structure
The Nottingham Company, Inc., a U.S.-based fund services administrator and private label issuer to the mutual fund and ETF sectors, has gained SEC approval for the short form exemptive relief application for Blue Tractor’s Shielded Alpha ETF structure. This SEC action will enable Nottingham, its affiliate investment advisor OBP Capital and the Spinnaker ETF Series,…
Oak and PraxisIFM plan to merge
Oak Group and PraxisIFM, two administrators based in Guernsey, plan to merge. Heads of Terms, which enable both companies to start formal negotiations, have been agreed and signed. Established in 2018 through the consolidation of four businesses, Oak operates across six jurisdictions with approximately 200 employees worldwide. PIFM listed on TISE in 2017 and has…
UMB to provide fund and custody services to Pear Tree funds
UMB Fund Services and UMB Bank have been appointed to provide accounting and custody services for Pear Tree Funds, a family of six mutual funds managed by Pear Tree Advisors Inc. UMBFS will provide accounting, tax preparation and reporting, whilst UMB Bank’s institutional custody group will deliver custody services.
Apex upgrades ESG offering with new analytics platform
Apex Group, the Bermuda-based financial services provider, has expanded its ESG ratings and advisory service with a new ratings and scoring platform. The portal is designed to deliver ESG insights to private companies and their investors. Apex manages the independent collection of data for investors from their underlying portfolio investments to deliver real-time ESG analytics…
HomeStreet Bank deploys SS&C Precision LM for RE portfolio
HomeStreet Bank has selected SS&C Precision LM to support its commercial real estate portfolio. HomeStreet Bank is a Seattle-based commercial real estate and multifamily lender.
State Street opens in Riyadh
State Street has opened its first Saudi Arabia office, located in Riyadh. The new office will provide both institutional services and asset management. State Street Saudi Arabia has appointed Abdullah Saleh Bakhrebah as chief executive officer and managing director. Bakhrebah has more than 12 years’ experience in Saudi Arabia’s banking and finance industry, and was…
TEB Securities Services appointed as account operator for Euroclear in Turkey
TEB Securities Services, part of the TEB-BNP Paribas partnership, has been appointed as account operator for Euroclear Bank’s new link to Turkey.
Citi takes USD9bn of John Hancock fund assets from State Street
A major breakthrough for Citi in the ’40 Act space, where John Hancock Investment Management has transferred the custody of USD9bn in fund assets to Citi from State Street. Citi has assumed custody for three Hancock funds: the Fundamental Large Cap Core, the Balanced and the Disciplined Value International, Citi has an existing mutual fund…
BNY Mellon adds senior talent across asset servicing business
BNY Mellon has made some significant hires across its asset servicing business. Mark McKeon joins as global head of front-to-back solutions, based in Dublin. He is charged with expanding asset servicing’s front-to-back solutions platform globally, connecting the front, middle and back office to deliver a seamless platform for clients. His remit will include OMS partnerships,…