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…
Richard
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…
SANNE hires Christopher Thoume for prod dev role in London
SANNE, the UK-based provider of alternative asset and corporate services, has appointed Christopher Thoume as director, product development in its London office. He will specialise in the development of SANNE’s product and digital solutions. He was previously the chief of staff to KPMG’s global head of fintech and COO of its UK blockchain and digital…
State Street to service ACI’s new semi-transparent ETFs
State Street has been appointed ETF servicing agent and Authorized Participant Representative (APR) for American Century Investments’ new range of semi-transparent, actively managed ETFs. American Century Investments is the first asset manager to receive regulatory approval for two investment strategies, Focused Large Cap Value and Focused Dynamic Growth, both of which will be available through…
USCF moves from BBH to BNY Mellon
United States Commodity Funds (USCF), which runs a family of commodity-based ETFs, has appointed BNY Mellon as custodian, fund accountant and transfer agent across all ETFs. The incumbent, BBH, will provide financial statements for Q1, after which BNY Mellon will assume this function.
JTC to acquire NES Financial
JTC, the C.I.-based funds and corporate services provider, has agreed to acquire NES Financial, a U.S.-based provider of specialist fund administration services. Founded in 2005, NESF has 58 employees, all of whom will join JTC, delivering services from Boston, Massachusetts, where its fund administration operation is based, and San Jose, California, which is the company’s…
Intertrust to provide depositary services for Altor PE funds
Altor Fund Manager, a Sweden-based manager of private equity funds, has appointed Intertrust to provide depositary services to Altor Fund IV and Altor Fund V, which are domiciled in Sweden Altor Fund IV closed in 2014 with a committed capital of EUR2bn and Altor Fund V closed in 2019 with a committed capital of EUR…