BBH is back in the game, after a good deal was killed by dumb regulators. In 1996, The Bank of New York made an audacious, and doomed, bid to take over State Street. It was not BNY’s finest hour. Its C-suite executives had completely misread the resolve of State Street’s board, senior management team and…
Month: November 2022
State Street and BBH call off deal
State Street and Brown Brothers Harriman have agreed to terminate State Street’s proposed acquisition of BBH’s investor services business. In a statement, State Street said: “After consideration of both regulatory feedback and potential transaction modifications to address that feedback, State Street has determined that the regulatory path forward would involve further delays, and all necessary…
Northern Trust partners with Saphyre
Northern Trust and Saphyre have automated the account opening process for clients of Northern Trust’s investment operations outsourcing business. The two firms collaborated on the solution, which provides a dynamic middle-office function to increase transparency and efficiency for events including account setup, account maintenance and asset transfer requests.
Napier expands to Japan
Napier, the UK-based financial crime fintech, has struck a partnership with GRCS, a Japan-based firm, to make Napier Continuum, its end-to-end financial crime risk management platform, available in the Japanese market. GRCS provides expertise and solutions in governance, risk management, compliance, and security to regulated Japanese firms. The partnership with Napier will see GRCS reselling,…
Symphony acquires Amenity
Symphony, a UK-based fintech, has acquired Amenity Analytics, a natural language processing data analytics solution providing actionable insights to portfolio managers, research professionals, analysts and other financial markets participants. This acquisition will enhance Symphony’s markets strategy with highly relevant data and business insights use cases, including ESG capabilities.
Altum supports HackCapital
Altum Group, a C.I.-based provider of fund, corporate, and family office solutions, has assisted HackCapital with the launch of its securitisation platform in Luxembourg. HackCapital is building an impact-investment marketplace that provides access to venture capital and accelerates investment into food, climate and health solutions globally.
Sionic hires Sascha Calisan
Sionic, a UK-based consultancy, has appointed Sascha Calisan as a director in its asset management practice, where she will lead the firm’s distribution services capability. Calisan was previously head of fund distribution support at Northern Trust.
SGSS supports EIB DLT bond issue
The European Investment Bank (EIB) has launched Project Venus, its second euro-denominated digitally native bond issue and the first using private blockchain technology. The EUR100m two-year bond was issued, recorded and settled using private blockchain-based technology, and represents the inaugural issuance on Goldman Sachs’ tokenisation platform – GS DAP. Banque de France and the Banque…
Mal Cullen to become CIBC Mellon CEO
Mal Cullen has been appointed as CEO of CIBC Mellon. He will remain a member of the board of directors of CIBC Mellon Trust Company. Cullen will be returning to Canada to assume his new role. He replaces Steven Wolff, who will retire from CIBC Mellon effective December 30, 2022, after six years of leadership.…
Broadridge & SLIB extend voting service
Broadridge, the U.S.-based fintech, and SLIB, a software editor for electronic voting and securities services based in France, have gone live with their joint end-to-end global voting solution. The deal builds on the cross-border proxy voting service for France-based investors that hold international shares, launched by Broadridge and SLIB in 2021.