Northern Trust has opened a branch in Oslo, Norway. The branch will offer onshore depositary services to Norwegian asset managers and asset owners. The opening follows its reappointment by the NOK 790bn (USD92bn) Kommunal Landspensjonskasse (KLP), Norway’s largest life insurance firm. Under the terms of the renewed mandate with KLP, Northern Trust will provide a…
Year: 2021
Citi to service first OFC ETF for CSOP in Hong Kong
Citi has been selected by CSOP Asset Management, the Hong Kong-based asset manager, to provide custody, fund administration and trustee services for the launch of its first ETF (CSOP STAR 50 Index ETF) in the form of an open-ended fund company. Chen Ding, CEO of CSOP Asset Management, said: “We are extremely excited to be…
CIBC Mellon and State Street are winners as BlackRock fires Scotiabank
BlackRock Canada, an indirect, wholly-owned subsidiary of BlackRock, Inc., has announced changes to the custodian line-up for its iShares Gold Bullion ETF and iShares Silver Bullion ETF. CIBC Mellon Trust Company will act as bullion custodian for the iShares Funds, and State Street Trust Company Canada as custodian of the non-bullion assets of the iShares…
OCC grants conditional approval to Protego for digital assets
The Office of the Comptroller of the Currency has granted conditional approval of the conversion of Protego Trust Company, a Washington state-chartered trust company, to become Protego Trust Bank, National Association. Protego is the second crypto-native firm to get national licensing from the OCC, following Anchorage’s approval last month. Protego is a bank designed and…
Northern Trust links to IHS Markit’s thinkFolio
Northern Trust has entered into an alliance with IHS Markit, provider of the thinkFolio multi-asset class investment management platform. The integration between thinkFolio and Northern Trust’s middle office outsourcing platform will provide opportunities for both firms to offer mutual institutional clients solutions and services, leveraging one another’s strengths across the investment value chain. Northern Trust…
BP2S teams up with Eastspring and STACS to improve ETD processing via DLT
Eastspring Investments, BNP Paribas Securities Services and Singapore-headquartered fintech firm Hashstacs Pte Ltd have implemented what they claim is a first-in-market blockchain-driven solution to enhance trade lifecycle management capabilities for exchange traded derivatives (ETDs). The trading fee calculation platform, Mercury, addresses current inefficiencies in the trade lifecycle management of ETDs. Mercury provides centralised and transparent…
BNY Mellon & Google Cloud partner to improve U.S. Treasurys efficiency
BNY Mellon has partnered with Google Cloud to help U.S. Treasury market participants predict settlement failures, generate significant capital and liquidity savings, and unlock operational efficiencies. The initiative will leverage Google Cloud’s data analytics, artificial intelligence and machine learning technologies to develop new collateral management and liquidity solutions built on Google Cloud. BNY Mellon is…
Ultimus to service funds for Public Trust Advisors
Ultimus Fund Solutions has been appointed to provide fund accounting and transfer agency to Public Trust Advisors, LLC, an independent investment advisor that specialises in managing and servicing the investment needs of local governments in the U.S. Founded in 2011, Public Trust offers investment management services to the public sector through local government investment pools…
MUFG expands LP services to Europe & Asia
MUFG Investor Services has expanded its limited partner services offering to Europe and Asia. This expansion out of North America is in response to increased market demand for LP services from private equity, real estate and other institutional investors. The enhanced offering automates data extraction and optimises specificity and accuracy to make functionality compatible with…
Leon Kruger joins Ocorian as Mauritius client services director
Ocorian, a C.I.-based administrator, has appointed Leon Kruger as client services director in Mauritius. He joins from Sanlam Life Limited in South Africa.