U.S. Bank, one of the world’s top 10 custodians with USD6.8trn AuC/A, has appointed BNP Paribas Securities Services as its custodian in 11 European markets (Austria, Belgium, Cyprus, France, Germany, Greece, Italy, the Netherlands, Portugal, Spain and Switzerland), as well as local custody services in the UK and Ireland. The relationship covers over USD10bn in…
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Pacific Oak Capital appoints CBRE for REIT admin
CBRE has been appointed the fund and property administrator for Pacific Oak Capital, a privately held asset management company that spun off from KBS Holdings in 2018. CBRE will provide services from property to fund-level accounting and compliance work for Pacific Oak Capital’s three existing REIT-structured funds. CBRE’s investment accounting & reporting solutions group offers…
IGM outsources fund services to CIBC Mellon
IGM Financial Inc. has selected CIBC Mellon to assume most of IGM’s fund services functions. This will add fund administration servicing solutions to the custody and related services that CIBC Mellon already performs for IGM. Once definitive agreements are complete, most IGM fund services employees in Toronto and Winnipeg (c.100 people) will transition to CIBC…
Griffin Capital selects NES Financial for OZ admin
Griffin Capital Company, a California-based asset manager, has appointed NES Financial to provide its Opportunity Zone fund administration suite. Griffin Capital’s alternative investment solutions include non-listed real estate investment trusts (REITs), actively managed interval funds, tax-advantaged Delaware statutory trusts (DSTs), and an Opportunity Zone Fund. “NES Financial is the only administrator we’ve found with the…
Aberdeen Standard hires Gen II for PEq funds in U.S.
Gen II Fund Services, a U.S.-based private equity fund administrator, has been named the exclusive fund administrator to certain private equity funds sponsored by Aberdeen Standard Investments Inc. and its affiliates. As part of the appointment, Gen II will provide fund accounting and reporting, fund administration and other related services to ASI’s U.S. private equity…
BNP Paribas releases 17 APIs for fund admin business
BNP Paribas Securities Services has released a set of APIs for its fund administration business. The bank has opted to standardise these APIs to ISO 20022 for greater interoperability across platforms. This new catalogue of 17 fund accounting APIs automatically updates clients’ systems with information specific to their business held by BP2S. This information includes…
BNY Mellon expands ESG analytics to corporate bonds
BNY Mellon has expanded its ESG analytics offering by integrating fixed income scoring for corporate bonds. Clients can now view ESG and GC scores on equities and fixed income at the portfolio level versus relevant benchmarks over time. Clients also have the ability to view the ESG and GC scores at the company-level. Additionally, BNY…
Aztec Group adds four senior managers in Luxembourg
Aztec Group has made four senior appointments in its Luxembourg office. Philippe Detournay has been appointed as director in the private equity business, while Waqas Khan and Gianmaria Lombardo have been appointed as associate directors. Detournay joins from Luxembourg-based Axior, where he was an advisor and non-executive director. Prior to this, he spent 13 years…
Estera appoints Sonal Patel as head of sales for Americas
Estera, the funds and trust services provider that is in the process of merging with Ocorian, has appointed Sonal Patel as managing director, head of sales – Americas, Bermuda and Caribbean. She joins Estera after over 20 years at BNY Mellon in business development, sales and relationship management. Most recently Patel was managing director –…
Oak hires Gavin Wilkins as head of corporate & fund services
Gavin Wilkins has been appointed as head of corporate and fund services for Oak, based in Jersey. He joins from JTC Group.