Lemanik Asset Management, a third-party management company, has been appointed by Daiwa Asset Management to provide ManCo services for a newly launched range of Luxembourg UCITS funds. RBC was recently appointed as custodian and administrator for the funds.
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U.S. Bank appoints HSBC for Saudi sub-custody
U.S. Bank now offers investors access to the Saudi Arabia market. HSBC Saudi Arabia will act as sub-custodian and Saudi Arabia British Bank as cash correspondent bank. HSBC and SABB will provide U.S. Bank with local custody and cash clearing services for investment services clients investing in Saudi Arabia through the qualified foreign investor (QFI)…
IQ-EQ hires in Cayman, Japan
Two appointments at IQ-EQ, the Luxembourg-based administrator. Hiroki Allen joins the Tokyo office as director, funds for Japan. He was previously at Bloomberg and has also worked at BNY Mellon. Tedrick Green has joined the Cayman Islands business as client director. He was previously at Walkers.
SANNE appoints country heads for Hong Kong & UK
SANNE, the C.I.-based provider of alternative asset and corporate services, has appointed Wendy Cheng as country head for Hong Kong and Chris Warnes as country head for the UK. Both are internal appointments.
BNP Paribas to service Nikko Asset Management’s first passive ETF
BNP Paribas Securities Services has been appointed as custodian and administrator for Nikko Asset Management’s first passive ETF, domiciled in Hong Kong. As part of the mandate, BNP Paribas will provide middle office, custody services, trustee, transfer agent and fund administration. This expands an existing relationship between Nikko Asset Management and BNP Paribas.
Petroleum Development Oman hires State Street
State Street has been appointed by the Omani Staff Pension Fund for Petroleum Development Oman to provide custody and investment servicing solutions for >USD2.3bn AuM. PDO has been a client of State Street Global Advisors for several years, and this mandate represents a new collaboration for one of Oman’s largest private sector employers with State…
Paloma Partners hires SS&C GlobeOp for fund services
Paloma Partners, a U.S.-based hedge fund manager, has appointed SS&C GlobeOp for fund accounting, administration and regulatory services, using SS&C Geneva as the general ledger accounting platform. Paloma manages approximately USD4.8bn.
SS&C changes Eze leadership team
SS&C has made changes to the SS&C Eze organisation and executive leadership team. Michael Hutner, currently global head of sales, will lead the business as general manager of SS&C Eze. Under the new structure, Hutner will report to Robert Roley, senior vice president, SS&C. He replaces Jeff Shoreman, who is leaving the company. Additionally, Mike…
U.S. Bank joins CREST with BNP Paribas as sponsoring member
U.S. Bank has been authorised by CREST, the UK-based central securities depository, to operate as a direct participant in the UK and Irish markets, with BNP Paribas serving as sponsoring member. Earlier this year U.S. Bank appointed BNP Paribas as its European regional custodian for 11 markets, in addition to the UK and Ireland.
Ocorian hires Lynda O’Mahoney in Dubai
Ocorian, the C.I.-based administrator, has hired Lynda O’Mahoney as a director in Dubai. She will focus on private clients, corporates, asset managers, institutions and government entities across the GCC countries. She joins from Apex Group and has lived in Dubai for over 16 years.