CACEIS has finally confirmed that CANDRIAM, the French asset manager, will migrate asset servicing activities (custody, fund administration, transfer agency) for its Luxembourg and French funds from RBC I&TS to CACEIS. The migration will start at the end of March 2020, following approval by the competent regulatory authorities. It will take place in three waves…
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U.S. Bank to administer USD1.9bn mutual fund family for Wilshire
Wilshire Associates has appointed U.S. Bank to provide custody, fund administration and transfer agency services for its family of nine mutual funds with USD1.9bn in assets. U.S.-based Wilshire will continue its relationship with U.S. Bank to service alternative investments, as well as U.S. Bancorp Asset Management for securities lending and overnight investment of cash balances.
NES Financial to administer OZ fund for Hatteras Sky
NES Financial, the Silicon Valley-based administrator, has been appointed to administer a Salt Lake Opportunity Zone Fund for Hatteras Sky, a commercial real estate development firm.
SGSS appoints Roberto Pecora as CEO for Italy
SGSS has appointed Roberto Pecora as CEO for Italy. He replaces Frédéric Barroyer, who is moving to another part of the bank. Pecora moves from his role as head of the bank’s global markets business in Italy. He will report to David Abitbol, global head of SGSS, and Alessandro Gumier, head of global banking &…
Segall Bryant & Hamill switches USD2.5bn mutual fund assets to Ultimus
Ultimus has been appointed as the mutual fund administration service provider for Segall Bryant & Hamill, an independent investment firm based in Chicago. SBH appointed Ultimus to convert the firm’s 17 mutual funds with over USD2.5bn AuM, and to provide services including financial accounting, fund administration, transfer agency, compliance, and distribution. SBH offers fee-based investment…
IQ-EQ hires John Legrand to head UK & Ireland
IQ-EQ, the Luxembourg-based administrator, has appointed John Legrand as managing director of UK and Ireland. He joins from eFront, the BlackRock-owned alternative investment software provider, where he was managing director for Asia Pacific. Before that, he spent 10 years with BNY Mellon in Singapore and London.
BNY Mellon partners with Milestone to offer new NAV services
BNY Mellon has launched a new suite of oversight and contingent net asset value (NAV) calculation solutions to complement its existing fund accounting capabilities. These new services are designed to drive greater transparency, efficiency and risk management for asset managers and asset owners. These expanded capabilities leverage the bank’s recent alliance with institutional investment solutions…
Tim Smollen takes sec lending team to MUFG from DB
As first reported here last November, MUFG Investor Services, the global asset servicing arm of Mitsubishi UFJ Financial Group, has appointed Tim Smollen as global head of global securities lending solutions. He will be based in New York and will be joined by eight additional hires who will support the growth and development of MUFG’s…
BP2S reorganises as Placido gets promotion
Following the appointment of José Placido as CEO of BNP Paribas Corporate and Institutional Banking (CIB) Americas, BP2S has made the following management changes: Alessandro Gioffreda, currently regional head of continental Europe for BP2S, is appointed head of territory management, covering all regions. In his new role, he will be responsible for the BP2S regional…
TMF hires Frank Welman and team from Intertrust
TMF Group, a provider of administration services based in Amsterdam, has appointed a new senior executive. Frank Welman joins from Intertrust in Luxembourg, where he was managing director of Western Europe for five years. He is joined by four other senior hires who are also moving across from Intertrust to take up roles at TMF.…