Northern Trust has automated processing of the full trade settlement lifecycle for syndicated bank loans through integration with IHS Markit’s ClearPar Custodian Services Messaging capability. Designed to deliver trade data in a standardised format via secured communications, this service increases scalability and efficiency while reducing the risks inherent in a manual trade settlement process. The…
Category: Bank Providers
HSBC settles first interest swap trade in China by foreign institutional investor
HSBC in China has facilitated the first interest rate swap trade by an overseas institutional investor through the central counterparty clearing model in the China interbank market. This new channel allows HSBC’s international clients to tap into the world’s second largest bond market while also adding to their risk mitigation capabilities. HSBC acted as the…
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…
HSS hires Frederic Van Ingelgom for bus dev role in Lux
HSBC Securities Services has hired Frederic Van Ingelgom as head of business development & client management for asset owners & managers in Luxembourg. He will report to Paul Heffernan, head of business development & client management, asset manager sector, HSS Europe, and Niccolo Polli, chief executive officer, HSBC Luxembourg. He joins from BBH where he…
J.P. Morgan takes stake in Arcesium
J.P. Morgan has taken a stake in Arcesium, the U.S.-based investment management technology and professional services firm. The investment deepens Arcesium’s strategic partnership with J.P. Morgan, including its securities services business, which already uses Arcesium’s technology for some parts of its alternative fund servicing operation. Terms of the investment were not disclosed.
State Street partners with iCapital Network for alts distribution
State Street has entered into a new partnership with iCapital Network, the financial technology platform specialising in alternative investment. The collaboration will combine State Street’s registered transfer agency and private market fund administration capabilities with iCapital’s platform technology and distribution network to enhance the offering and servicing of U.S. registered funds. With high net worth…
CANDRIAM to move from RBC to CACEIS
CACEIS has finally confirmed that CANDRIAM, the French asset manager, will migrate asset servicing activities (custody, fund administration, transfer agency) for its Luxembourg and French funds from RBC I&TS to CACEIS. The migration will start at the end of March 2020, following approval by the competent regulatory authorities. It will take place in three waves…
U.S. Bank to administer USD1.9bn mutual fund family for Wilshire
Wilshire Associates has appointed U.S. Bank to provide custody, fund administration and transfer agency services for its family of nine mutual funds with USD1.9bn in assets. U.S.-based Wilshire will continue its relationship with U.S. Bank to service alternative investments, as well as U.S. Bancorp Asset Management for securities lending and overnight investment of cash balances.
SGSS appoints Roberto Pecora as CEO for Italy
SGSS has appointed Roberto Pecora as CEO for Italy. He replaces Frédéric Barroyer, who is moving to another part of the bank. Pecora moves from his role as head of the bank’s global markets business in Italy. He will report to David Abitbol, global head of SGSS, and Alessandro Gumier, head of global banking &…
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…