Lester Owens is to join Wells Fargo in the newly created role of head of operations. Owens, who joins Wells Fargo in late July 2020, will report to COO Scott Powell and will sit on the company’s operating committee. Owens joined BNY Mellon from J.P. Morgan at the end of 2018 as head of operations.
Category: BNY Mellon
CIBC Mellon appointed as custodian for two more Bank of Canada programs
Following its recent appointment as custodian for the Bank of Canada’s commercial paper purchase program, CIBC Mellon has been mandated to provide custody for the Bank of Canada’s corporate and provincial bond purchase programs.
BNY Mellon launches end-to-end solution for ActiveShares ETFs
BNY Mellon has launched an end-to-end technology solution to support ActiveShares non-transparent actively managed exchange-traded funds. This solution delivers a digital workflow from order placement through execution of underlying securities associated with creation and redemption activity. It incorporates the authorized participant representative (APR) and verified intraday indicative value agent (VIIV Agent) in daily ETF workflows…
CIBC Mellon to administer Bank of Canada’s CP program
CIBC Mellon has been appointed to provide asset servicing for the Bank of Canada’s recently launched commercial paper purchase program (CPPP). CIBC Mellon currently provides custody and asset servicing for the Bank of Canada’s pension plan.
USCF moves from BBH to BNY Mellon
United States Commodity Funds (USCF), which runs a family of commodity-based ETFs, has appointed BNY Mellon as custodian, fund accountant and transfer agent across all ETFs. The incumbent, BBH, will provide financial statements for Q1, after which BNY Mellon will assume this function.
BNY Mellon onboards Liontrust to upgraded MO platform
BNY Mellon has on-boarded Liontrust Asset Management Plc, a UK asset manager, as the first end-to-end client on its new investment operations (middle office) platform. The new open architecture platform, which is still branded as OnCore, aims to improve automation and integration capabilities, and offer enhanced data management and control capabilities to institutional asset managers.…
BNY Mellon shakes up asset servicing management team
BNY Mellon has announced a major reorganisation of its asset servicing senior management team. Hani Kablawi, previously CEO of asset servicing, will become head of international, which includes the bank’s regional management teams across EMEA, APAC and LATAM. In addition, he will remain chairman of EMEA, and will retain oversight of client coverage for asset…
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…
VFMC selects BNY Mellon’s Eagle for data management
Victorian Funds Management Corporation (VFMC) has selected BNY Mellon’s Eagle Data Management product to underpin its data and IT transformation strategy. The solutions, hosted on Eagle ACCESS, a secure private cloud, also include a managed services agreement to integrate, clean, enrich and validate multiple sources of investment data into one centralised location and help manage…
State Street confirms expansion of relationship with VanEck to include ETFs
State Street has confirmed that it has expanded its servicing arrangement with VanEck, the New York-based manager, to provide ETF services for nearly USD40bn of assets. As part of this arrangement State Street will provide a variety of back office services, including accounting and certain administration functions, for more than 60 VanEck funds. BNY Mellon…