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…
Category: Bank Providers
Tim Smollen takes sec lending team to MUFG from DB
As first reported here last November, MUFG Investor Services, the global asset servicing arm of Mitsubishi UFJ Financial Group, has appointed Tim Smollen as global head of global securities lending solutions. He will be based in New York and will be joined by eight additional hires who will support the growth and development of MUFG’s…
BP2S reorganises as Placido gets promotion
Following the appointment of José Placido as CEO of BNP Paribas Corporate and Institutional Banking (CIB) Americas, BP2S has made the following management changes: Alessandro Gioffreda, currently regional head of continental Europe for BP2S, is appointed head of territory management, covering all regions. In his new role, he will be responsible for the BP2S regional…
HSS partners with AcadiaSoft for IMS
HSBC Securities Services will partner with AcadiaSoft to deliver a full end-to-end independent Initial Margin Service for its clients who are preparing for Phase 5 and Phase 6 regulatory initial margin. This functionality will enable HSS to calculate initial margin in compliance with the ISDA standard initial margin model (SIMM) independent of the clients’ counterparty.…
Storebrand appoints Northern Trust in Luxembourg
Northern Trust has been selected by Nordic investment manager Storebrand Asset Management AS as asset servicing provider for its AIF and UCITS funds domiciled in Luxembourg. Northern Trust will provide global custody, fund administration, transfer agency, depositary, and company secretarial services for the Storebrand funds in Luxembourg. The UCITS umbrella fund will operate a number…
State Street partners with Gemini for digital asset reporting
State Street has launched a new digital asset pilot in collaboration with Gemini Trust Company, LLC, a cryptocurrency exchange and custodian. The pilot will combine Gemini Custody with State Street’s back office reporting, performing reporting scenarios on a user’s holdings within Gemini Custody. Initially, the pilot reports holdings of two cryptocurrencies chosen for liquidity reasons,…
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…
Northern Trust launches Margin Segregation service for OTC derivatives
Northern Trust has expanded its collateral management services for OTC derivatives trading. The new functionality will enable asset managers and institutional investors to outsource aspects of regulatory compliance to Northern Trust and optimise collateral selection. The Margin Segregation Service includes new capabilities that streamline complex processes for meeting uncleared margin rules, such as undertaking industry-standard…
RBC launches collateral management service
RBC Investor & Treasury Services has launched its collateral management service. This middle office solution centralises and interprets collateral management data to help asset managers comply with BCBS and IOSCO rules for non-cleared derivatives. RBC has deployed technology provided by CloudMargin via IHS Markit. The service includes: Centralisation of standing settlement instructions and CSA contracts;…
Fondo.Fon.Te. appoints SGSS as depositary in Italy
SGSS in Italy has been selected as depositary by Fondo Fon.Te., the collectively agreed supplementary pension fund for employees of businesses in the tertiary sector (commerce, tourism and services), the third largest in Italy by assets under management, with a total of EUR4bn.