State Street has entered into an agreement to make the LoopFX functionality available through FX Connect, part of the GlobalLink suite of e-trading platforms, technology and workflow solutions. LoopFX is creating a new liquidity venue for large spot FX trades by centralising peer-to-peer matching with bank interest. This will enable traders to identify, in real-time,…
Month: September 2023
Apex wins in India
Apex has been appointed by The Investment Trust of India Limited to provide fund administration services to the ITI Long Short Equity Offshore Fund in India’s Gujarat International Finance Tec-City International Financial Centre (GIFT City). Incorporated in 1991, ITI is one of India’s largest financial services conglomerates. ITI has >USD650m AuM in mutual funds and…
Northern Trust develops carbon credit exchange
Northern Trust has completed the first stage toward an industry-wide voluntary carbon credit ecosystem that would allow institutional buyers to digitally access carbon credits from leading project developers. This follows Northern Trust’s milestone of completing fully automated transactions on the initial MVP digital carbon credit platform it has developed with carbon avoidance and removal project…
Citco expands client collaboration platform
Citco, the asset servicing provider to the alternative investment industry, has made the Citco Collaboration Platform available to a wider range of private markets clients, and added further functionality. The platform, which allows clients to carry out a variety of interactions with Citco through a single window via CitcoOne, now serves not only private equity…
Apex opens in Korea
Apex has established a presence in Korea. The Korea office will add to its existing regional offices in China, Hong Kong, Japan and Singapore, where Apex employs over 500 people.
Hello Goodbye
U.S. Bank has lost four senior executives in less than a year. Time for a refresh? When Joe Neuberger resigned as president of U.S. Bank’s global fund services business in late 2022 – after a 28-year career at the bank – the obvious solution was to install Christine Waldron, chief product officer for the wealth…
Northern’s FOS gains global mandates
Northern Trust has reported an expanding global presence for its Front Office Solutions (FOS) business, with the addition of new clients in EMEA. FOS has recently been deployed by three organisations – an asset manager, a university endowment and a pension fund – in EMEA with approximately USD75bn in assets. Globally, FOS has nearly USD500bn…
Apex to acquire in Guernsey
Apex has agreed to acquire IP Fund Managers Guernsey Ltd (IPFMG), a Guernsey-based ManCo.The acquisition of IPFMG will add USD200m AuA, across eight funds and six fund managers. Apex’s existing ManCo services, delivered under the FundRock brands, cover >1,200 funds with a total of EUR234bn (USD250bn) AuM across 12 countries, including Guernsey, Luxembourg and Ireland.…
Waldron joins BNY Mellon
BNY Mellon has hired one of the superstars of the global investor services business. Christine Waldron is joining as head of fund services, having worked for nearly 25 years at U.S. Bank, most recently as chief product officer for the wealth and investment services business lines. She replaces Alan Flanagan, who has been appointed head…
Apex opens in Denver
Apex has opened an office in Denver, Colorado. The office will be led by James Wheatley, global head of operations – private equity & direct lending, and Jason Sauve, director of fund administration services. Apex currently has multiple client service delivery teams located in Denver, with plans to double headcount through the creation of new…