Robert Rushe, one of the pioneers of the European ETF industry, has joined CACEIS as head of ETF solutions, based in Ireland. Rushe was part of the BoISS ETF team that joined Northern Trust after its acquisition in 2011, and most recently worked at BNY Mellon as head of the ETF business for EMEA.
Category: NTRS
Andy Clayton retires from Northern Trust
Andy Clayton has retired from Northern Trust after a 35-year career with the firm. Clayton held a number of senior positions with the securities finance and capital markets business lines, most recently as head of Northern Trust’s capital markets division in EMEA. He has also run the global securities lending business. His retirement is the…
Zodia begins operations in UK
Zodia Custody, the UK-based crypto asset JV between SC Ventures, the ventures and innovation arm of Standard Chartered, and Northern Trust, is now registered with the UK’s Financial Conduct Authority (FCA). The registration means that Zodia Custody can now provide commercial services to clients as a cryptoasset business. Zodia Custody is one of nine cryptoasset…
Northern Trust launches alts servicing digitisation initiative
Northern Trust has launched a machine learning-powered document capture capability as the foundation of a multi-year investment to digitise alternative asset servicing and enhance the experience for clients that invest in complex private market and unlisted assets. The proprietary solution combines robotic process automation and cloud-based technology to provide transparency and data standardisation that enables…
HSBC adds two senior bus dev execs to asset manager team
HSBC’s securities services business has made two senior appointments in its asset manager sector. Mark Low is appointed client executive – asset managers, Europe, reporting to Michelle Butler, head of business development & client management – Europe, asset owners & managers. He joins from RBC where he spent eight years, predominantly responsible for the asset…
Northern Trust to support Fundsmith’s SICAV
Northern Trust has been appointed to provide fund accounting, transfer agency and global custody services to Fundsmith’s Luxembourg-domiciled umbrella, Fundsmith SICAV. Fundsmith SICAV was launched in 2011 and currently has EUR6.4bn (USD7.6bn) AuM. At launch, State Street/IFDS were appointed to provide fund administration, custody and TA to the fund. Headquartered in the UK, Fundsmith has…
Northern Trust passes USD1trn in DC assets
Northern Trust reports that its defined contribution (DC) global assets under custody and administration have exceeded USD1trn. Northern Trust has >140 global DC clients, with >USD1.4trn of assets. Clients include 12 of the 50 largest U.S. defined contribution plans as measured by total assets, as well as plans in Australia, the UK, and additional countries…
Northern Trust adopts 3D platform for distribution oversight
Northern Trust has entered into an agreement with Distributor Due Diligence (3D) to support its asset manager clients with oversight of distribution of their funds to investors. The service, Network Monitor, will make 3D’s platform service available to clients to support their regulatory responsibilities for performing due diligence of their distributor networks.
Northern Trust extends Swiss presence with Depotbank licence
Northern Trust has received regulatory approval to offer local custodian, depositary, transfer agency and ancillary services to institutional investors and managers in Switzerland. Northern Trust has more than 30 years of experience in providing an extensive range of asset servicing and investment solutions to Swiss clients, and in 2017 established its presence in Basel, following…
Northern Trust promotes Higgins & Carey in Asia Pacific
Northern Trust has appointed Caroline Higgins as the head of Hong Kong, Macau and Taiwan, and Iain Carey as the head of Global Funds Services in Asia. Based in Hong Kong, Higgins will report to Angelo Calvitto, recently named head of Asia Pacific asset servicing. Reporting to Higgins, and assuming her prior role as head…