Northern Trust has been appointed by Carpenters Trusts of Western Washington, a Seattle-based self-administered Taft-Hartley trust, to provide global custody, securities lending, foreign exchange and related services for USD2.2bn in trust assets.
Richard
BP2S names Franck Dubois regional head of APAC
BNP Paribas Securities Services has appointed Franck Dubois, currently head of France and Belgium, as regional head of APAC. He replaces Mostapha Tahiri, who is leaving the bank. Pierre Jond replaces Dubois as head of France and Belgium. He is currently chief of staff for Patrick Colle, the global head of BP2S.
UMBFS named distributor for Smead Value Fund
UMB Fund Services has been named distributor for Smead Value Fund, a registered mutual fund advised by Smead Capital Management. Via UMB Distribution Services, it will provide broker/dealer compliance solutions including supervision of registered representatives, advertising review and approval, and dealer agreement and distribution payments support. Smead Capital Management manages around USD1.58bn for advisors, family…
AJ Bell appoints Clearstream as funds custodian
AJ Bell, a UK-based investment platform provider, has appointed Clearstream as its primary custodian for its fund processing activities. Clearstream will be AJ Bell’s primary custodian for funds custody, settlement and order routing for its Youinvest, Investcentre and Custody Solutions products through Vestima, its global fund processing platform.
CIBC Mellon to service CI WisdomTree ETFs in Canada
CIBC Mellon has been appointed to provide custody, fund accounting and ETF servicing for CI Financial’s 14 Toronto Stock Exchange-listed CI WisdomTree ETFs, which the company recently acquired. CIBC Mellon already services all of CI Financial’s ETFs. CI Financial is one of Canada’s largest investment companies and, with its acquisition of WisdomTree’s Canadian operations, the…
UAE’s Sancta Capital Advisors picks Northern Trust for custody & brokerage
Northern Trust has been selected by Dubai-based asset manager Sancta Capital Advisors to provide brokerage and global custody services. Sancta Capital is part of Sancta Capital Group, an alternative investment manager founded in 2013. Sancta Capital will use Northern Trust’s agency-only brokerage service, in addition to global custody for local and global mandates.
BP2S appointed by HK’s BEA Union Investment to service first retail OFC
BNP Paribas Securities Services has been selected to provide custody and fund services to BEA Union Investment, the first fund manager to use Hong Kong’s Open-ended Fund Company (OFC) regime for an actively managed retail fund. BP2S will provide BEA Union Investment with a range of services, including fiduciary duties, fund administration and transfer agency.
BNP Paribas wins EUR2.3bn sec lending mandate for Fondoposte in Italy
BNP Paribas Securities Services has been appointed to provide securities lending services to Fondoposte, the national supplementary pension fund for the employees of Poste Italiane S.p.A. BP2S will provide Fondoposte with securities lending services covering approximately EUR2.3bn of assets. BP2S has been providing depositary banking services to Fondoposte since 2016.
Northern Trust launches new series trust
Northern Trust has launched Datum One Series Trust, the second trust it now offers. Advisers Investment Trust, launched in 2011, has grown to approximately USD18bn in assets. The series trusts allow managers to focus on distributing their funds under their own brand name and marketing strategy while leveraging Northern Trust’s infrastructure and back-office services.
State Street to service Fidelity’s new semi-transparent ETFs
State Street has been appointed ETF servicing agent for Fidelity Investments’ new range of semi-transparent, actively managed ETFs. Fidelity is the first asset manager to receive regulatory approval for three investment strategies: Fidelity Blue Chip Growth ETF, Fidelity Blue Chip Value ETF, and Fidelity New Millennium ETF, which will be available through Fidelity’s proprietary proxy…