CIBC Mellon has been appointed to provide asset servicing for the Bank of Canada’s recently launched commercial paper purchase program (CPPP). CIBC Mellon currently provides custody and asset servicing for the Bank of Canada’s pension plan.
Year: 2020
Ultimus hires Ned Siegel for private funds bus dev
Ultimus Fund Solutions, the U.S.-based independent administrator, has appointed Ned Siegel as senior vice president of business development within Ultimus LeverPoint, its alternative fund administration business. Based in Boston, Siegel will be part of a team responsible for growth of the firm’s private fund administration services. Prior to joining Ultimus, Siegel’s most recent role with…
AEG selects SS&C’s Precision LM loan servicing platform
American Enterprise Group has selected SS&C’s Precision LM platform for loan servicing, accounting, asset management, valuation, and reporting. AEG has multiple insurance company subsidiaries under the American Republic, Great Western Insurance Company, and Medico brands.
SANNE hires RBC’s Marta Ciemiega as U.S. bus dev director
SANNE, the UK-based administrator, has appointed Marta Ciemiega as business development director in the U.S. Based in New York, she will focus on building new relationships with fund managers who have investment strategies spanning private equity, real assets, infrastructure, private credit and hedge. She joins from RBC Investor & Treasury Services.
StanChart combines securities services & portfolio risk management
Standard Chartered has combined its securities services and portfolio risk management businesses to form a new financing and securities services unit. Margaret Harwood-Jones, currently global head of securities services, will co-head the new unit with Emmanuel Ramambason, currently global head of portfolio risk management. They report to Roberto Hoornweg, global head of financial markets. The…
RUNNING ON THE SPOT – InServ providers need to make more money. Gathering assets is not the answer.
3 April 2020: Here’s an interesting fact. At the end of 2015, J.P. Morgan’s securities services business reported Q4 revenues of USD933m, and AuC of USD19.9trn. At the end of 2019, the same business reported AuC of USD26.8trn, and Q4 revenues of USD1.1bn. In case you are too weary from quarantine or lockdown or Netflix…
EFA to service Espiria funds for East Capital
EFA, the Luxembourg-based administrator, has been appointed by East Capital Group to provide fund administration and related services for the Espiria fund range. Espiria has five sub-funds and uses asset pooling, with >EUR1bn AuM. For more than 10 years, EFA has been providing a range of administration services to East Capital in both Luxembourg and…
HSS appointed as sole custodian by UK’s Admiral Group
The Admiral Group, a UK-based insurance company, has appointed HSBC Securities Services as sole global custody provider for all assets.
SANNE to provide fund admin services to ACA’s Mauritius unit
SANNE, the UK-based provider of alternative asset and corporate administration services, has been appointed by ACA Manager (Mauritius) Ltd, a member of the African Capital Alliance Group, to provide fund accounting and administrative services. ACA is a pan-African private equity investment firm sponsoring funds and managing investments in sub-Saharan Africa.
IQ-EQ hires for Luxembourg, India
IQ-EQ, the Luxembourg-based administrator, has expanded its Luxembourg senior management team with the appointment of Peter Corry as country delivery director, fund services, and Emilie Romain as client director, funds. Corry was previously at State Street, whilst Romain joins from RBS International. IQ-EQ also hired Sukanya Lal as business development director focusing on India. She…