Water Island Capital has converted the Water Island Long/Short Fund (Nasdaq: ATQIX), a mutual fund within The Arbitrage Funds series trust, to the AltShares Event-Driven ETF (NYSE Arca: EVNT). State Street facilitated the conversion.
Category: Bank Providers
State Street goes live with Acadia
State Street’s Collateral+ business is now operational with Acadia’s Initial Margin Exposure Manager (IMEM) and Margin Manager (MM) service. This integration provides automated dispute management for initial margin agreements and electronic margin call messaging across multiple products.
Paul Bishop joins J.P. Morgan
J.P. Morgan has hired another re-tread from Deutsche Bank. Paul Bishop has joined as head of U.S. direct custody, having held a similar role at Deutsche Bank.
Duncan Christie joins Gen II in Luxembourg
Gen II Fund Services, the specialist private assets administrator which has USD600bn AuA, has appointed Duncan Christie as head of operations and client services and a member of the executive committee in Luxembourg. He joins from IFDS in Luxembourg, where he was COO, responsible for operations, client service, business transformation, and research & development.
SGSS appoints co-heads to replace Christophe Baurand
After more than six years in the job, Christophe Baurand has stepped down from his role at Société Générale Securities Services as head of coverage, marketing and solutions. SGSS has appointed co-heads to replace him: Alexandra Chauvel and Gildas Le Treut. Based in Paris, they will join the SGSS executive committee, reporting to David Abitbol,…
Northern Trust applies AI to alternative investment data
As part of its initiative to digitise alternative asset servicing, Northern Trust has launched an AI-powered solution to extract unstructured investment data from alternative asset documents and make it accessible and actionable for asset owner clients. Built in collaboration with Microsoft Azure Applied AI Services, and business and consulting firm Neudesic, the proprietary solution transforms…
Archer adds John Lehner to board
Archer, a service provider to the investment management industry, has appointed John Lehner as a member of its board of directors. Lehner has previously worked at State Street, BNY Mellon and Eagle Investment Systems.
State Street launches GIPS solution
State Street has struck a partnership with The Spaulding Group, a provider of investment performance measurement services, to launch its Global Investment Performance Standards (GIPS) asset owner solution. The combination of State Street’s core performance services and operational support with The Spaulding Group’s educational, consulting, and verification capabilities aims to provide asset owners with the…
Ocorian hires new head of global funds
Ocorian, the C.I.-based administrator, has hired Garrett Breen as head of global funds. Based in Dublin, he reports to Mike Hughes, Ocorian’s global head of service lines and business development. He joins from J. P. Morgan, where he led the hedge fund services business.
State Street to buy BBH’s investor services business for USD3.5bn
State Street and Brown Brothers Harriman & Co. have entered into a definitive agreement for State Street to acquire BBH’s Investor Services business, including its custody, accounting, fund administration, global markets and technology services, for USD3.5bn in cash. Following the transaction, BBH will continue to independently own and operate its separate private banking and investment…