Citi has signed a memorandum of understanding with RBC in Australia that gives Citi the right to negotiate with RBC’s clients following the Canadian bank’s decision to withdraw from the investor services business in the country. RBC has been in Australia since 2001, when it acquired Perpetual Fund Services, and as recently as this year…
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Lemanik selected by E Fund HK as ManCo for Lux SICAV
E Fund Management (Hong Kong) Co., Limited has selected Lemanik Asset Management S.A. as the management company for its Luxembourg SICAV. The fund was launched in 2015. E Fund, the parent company of E Fund HK, was founded in 2001 and is headquartered in Guangzhou.
Atwater Capital appoints Socium as administrator
Socium Fund Services, a U.S.-based administrator focused on private capital, has been hired by Atwater Capital, LLC, a private investment firm that provides equity capital and debt financing in the media and entertainment sectors. Socium will provide operational and fund administration services.
TIG Advisors selects SS&C Geneva for portfolio accounting
Tiedemann Investment Group (TIG Advisors), a U.S.-based alternative investment advisor, has selected SS&C Geneva for portfolio accounting. TIG Advisors is also using SS&C Eze OMS for order management and compliance.
HSS launches blockchain platform for private asset recordkeeping
HSBC Securities Services has launched Digital Vault, a custody blockchain platform to digitise the transaction records of private placements. The platform will enable global custody clients to access details of their private assets, including equity, debt and real estate, directly and in real-time instead of having to request a search of paper-based records. HSS says…
U.S. Bancorp to sell Quasar Distributors to Foreside
Foreside Financial Group, LLC, the U.S.-based provider of regulatory and compliance service and technology offerings to clients in the global asset and wealth management industry, intends to acquire U.S. Bancorp’s mutual fund and exchange-traded funds distribution business, Quasar Distributors. The transaction is expected to close in the first quarter of 2020. The acquisition will also…
Intertrust appoints Michael Moncarz to head Asia Pacific ops
Intertrust has appointed Michael Moncarz as managing director, operations for Asia Pacific, a newly created role. Prior to joining Intertrust, he was chief operating officer, Singapore branch, at Union Bancaire Privee.
State Street hires HSBC’s Cara Brosnan to head sector solutions for Aus & SE Asia
State Street has hired Cara Brosnan as head of sector solutions, Australia and Southeast Asia, a newly created role. Brosnan is based in Sydney, and leads sales across all of State Street’s products and client sectors including asset managers, asset owners, insurance, official institutions and alternatives in Australia and Southeast Asia. She reports to Jason…
CACEIS to provide depositary services to Fondazione ENPAIA in Italy
CACEIS, the asset servicing banking group of Crédit Agricole, has been appointed to provide depositary bank and related services by Fondazione ENPAIA, the National Social Security Institute for Agriculture Industry Workers in Italy. ENPAIA has over 38,000 subscribers and more than EUR1.5bn in assets under management.
Noor Adhami appointed MENAT head for HSBC Securities Services
HSBC Securities Services has appointed Noor Adhami as head of MENAT, in addition to her current role as head of global liquidity and cash management for MENAT. She will continue to report on a functional basis to Diane Reyes, global head of global liquidity and cash management, and on an entity basis to Gareth Thomas,…