Northern Trust has appointed Caroline Hwang to lead client services for its asset servicing business in Hong Kong, Macau and Taiwan. Hwang is responsible for managing Northern Trust’s client service team for institutional asset owners as well as developing and implementing strategy across these markets. Based in Hong Kong, Hwang reports to Michael Wu, country…
Category: Bank Providers
State Street & SimCorp to partner on EMEA insurance sector solutions
State Street and SimCorp, an investment management solutions and service provider, have announced their intention to form a business partnership to provide a fully integrated, front-to-back investment outsourcing solution for insurance firms in EMEA. EMEA-based insurance companies will have access to SimCorp Dimension’s cloud-based, multi-asset class capabilities, advanced accounting functionality and managed services, together with…
Northern Trust wins GBP11bn Marks & Spencer pension fund
Northern Trust has been selected by Marks & Spencer Pension Trust (M&SPT) in the UK to provide a range of asset servicing solutions to the M&S Pension Scheme, a defined benefit pension scheme of which M&SPT is trustee. With GBP11bn of assets (USD14.3bn), the M&S Pension Scheme is one of the country’s 25 largest corporate…
Citi launches host-to-host link with Taiwan Depository & Clearing Corp.
Citi has launched a host-to-host connection with Taiwan Depository and Clearing Corporation which allows Citi to offer its clients near-real-time trade status and settlement confirmations for certain equity settlements, including securities borrowing and lending and ETF activities. Citi claims to be the first custodian bank in Taiwan to use host-to-host connectivity for intraday feeds and…
Sanford C Bernstein consolidates European settlement with BP2S
Sanford C Bernstein Ltd, the broker/dealer subsidiary of Alliance Bernstein, has appointed BNP Paribas Securities Services to provide settlement services in Austria, Germany, Italy, Turkey and Euroclear Bank. This appointment follows Sanford C Bernstein’s decision to consolidate its providers in Europe and strengthens its relationship with BNP Paribas Securities Services, which already provides the broker/dealer…
Paul McDonough joins State Street’s asset owner sales team
Paul McDonough has joined State Street as a managing director in the asset owner sales division. He joins from Northern Trust, where he spent 13 years in the corporate & institutional services group as a new business development officer within the asset servicing division.
Federated Mutual selects Northern Trust for USD7bn custody mandate
Northern Trust has been selected by Federated Mutual Insurance Company to provide global custody and cash management services for over USD7bn of insurance assets.
BP2S and Curv complete PoC for security token transfers
BNP Paribas Securities Services and Curv, a cloud-based digital asset security infrastructure for financial institutions, have completed a proof of concept to transfer security tokens securely between market participants. As part of this engagement, BNP Paribas Securities Services and Curv transferred a security token using Curv’s multi-party computation solution to ensure the security of the…
BNY Mellon & NCB Capital strike white label deal in Saudi Arabia
NCB Capital, the asset management and investment banking arm of Saudi Arabia’s National Commercial Bank, has struck an alliance with BNY Mellon to deliver global custody and associated asset servicing activities to institutional and large asset owners based in the country. The alliance will provide clients of NCB Capital, Saudi’s largest custodian and asset manager,…
Citi wins USD600m servicing mandate for Russia’s first ETF issuer
Citi has been awarded the mandate to provide ETF services for the full fund range of FinEx ETF, Russia’s first ETF issuer. Under the agreement, Citi will service FinEx’s 13 ETFs, coveringUSD600m in assets. Citi will provide a range of services across custody, fund administration and basket services, as well as distribution support through Citi…