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…
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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…
BP2S selected by CSOP AM to service new Singapore VCC
BNP Paribas Securities Services has been selected by CSOP Asset Management to provide custody, fund administration and transfer agency for funds using Singapore’s new Variable Capital Company (VCC) structure. With USD6.3bn AuM, CSOP is the largest Chinese asset manager to use Singapore’s new corporate fund structure.
Vistra hires four PE specialists from TMF
Vistra, the independent fund administration, trust and corporate services provider, has hired a team of four private equity specialists from TMF Group. All are based in the U.S. Anastasia (Kim) Williams, commercial sales director, recently led the private equity practice in North America at the TMF Group. Prior to that, she was a senior member…
BP2S to acquire Sabadell’s Spanish depositary banking unit
BNP Paribas has agreed to buy the depositary banking business of Banco de Sabadell in Spain. BNPP will pay EUR115m (USD127m) for the unit, which has assets of EUR22bn. Last year BNPP agreed to buy MAPFRE’s Spanish depositary services unit, and in 2014 it acquired Banco Popular’s depositary business in Spain.
UMB FS hires Mike Huisman to head TA
UMB Fund Services has hired Mike Huisman as senior vice president, director of transfer agency. He joins from Envision Financial Systems, where he was the head of alternative product solutions. Scott Schulenburg, who has run transfer agency since 2015, is moving into a client relationship management role.
HSS appointed as trustee for first iron ore futures ETF in HK
HSBC has been appointed trustee and designated margin depository bank for the SSIF DCE Iron Ore Futures Exchange Traded Fund, the first iron ore futures ETF in Hong Kong. It is launched by Shanxi Securities International Asset Management Limited, a wholly owned subsidiary of Shanxi Securities International Financial Holdings Limited, one of the first securities…
EFA to administer REINO RF CEE RE fund
EFA, the Luxembourg-based administrator, has been appointed to provide administration services to the REINO RF CEE Real Estate Fund, a RAIF formed as part of a strategic collaboration between Poland-based REINO Capital and Australian firm RF CorVal. The fund, targeting the Polish real estate market, will have EUR750m of assets under administration and will be…
Steve Mccullough joins HSS to head APAC bus dev
HSBC Securities Services has hired Steve Mccullough to head business development for asset owners & managers in Asia Pacific. Based in Hong Kong, he reports to Sébastien Danloy, global head of asset owners & managers. Mccullough was previously at Citi.
MUFG IS adds two senior managers in UK
MUFG Investor Services has hired Lizzy Buss as executive director of EMEA sales and Cliodhna Murphy as executive director, product development. Both are based in London. Buss joins from State Street, where she was head of business development for InfraHedge across EMEA and APAC. In her new role, she will direct the sales and growth…