30JUL19: Citi is merging its equities and prime, futures and securities services business lines. The motivation, in part, is in reaction to increasing client demand for end-to-end solutions supporting pre-trade, execution and post-trade. The new organisation – Equities and Securities Services (ESS) – will include broad trading and execution capabilities for electronic and complex structured…
Category: Bank Providers
UAE-based Introspect Capital appoints Northern Trust
29JUL19: Dubai-based asset manager Introspect Capital has appointed Northern Trust to provide global custody and brokerage services. Founded in 2017, Introspect Capital invests primarily in equities across the Middle East, North Africa and South Asia.
Northern Trust launches agency options trading desk
25JUL19: Northern Trust has established a dedicated options trading desk within its institutional brokerage business. The Chicago-based options desk provides institutional clients globally with options trading and streamlined reporting for prime brokerage. Options trading at Northern Trust is offered through an agency model with no principal trading operation. Northern Trust executes more than USD350bn notional…
Leadenhall Capital Partners appoints U.S. Bank as Irish UCITS depositary
23JUL19: U.S. Bank has been appointed as depositary services provider for the Leadenhall UCITS ILS Fund PLC. In this role, U.S. Bank will provide asset safekeeping, fiduciary oversight and cash monitoring to Leadenhall Capital Partners LLP. Through its global fund services business, U.S. Bank will also act as the principal administrator of fund accounting, financial…
Hermes appoints Northern Trust for FX management in Ireland
23JUL19: Northern Trust has been appointed by Hermes Investment Management to provide currency management services for its Irish fund range. Ian Kennedy, COO, Hermes Investment Management, said: “Northern Trust have been able to automate our sophisticated currency management investment process and deliver comprehensive reporting and analytics for us. This has increased operational efficiency and enhanced…
Pzena IM extends NTRS relationship to Ireland
22JUL19: Pzena Investment Management, a U.S.-based money manager with USD37.4bn AuM, has selected Northern Trust as fund administrator and global asset servicing provider for its Ireland-domiciled UCITS funds. The appointment extends Pzena’s existing relationship in the U.S. and Australia with Northern Trust.
BP2S links to Broadridge for hedge fund front-to-back solution
22JUL19: BNP Paribas Securities Services has extended its front-to-back outsourcing model for hedge funds with a connection to front office provider Broadridge. With the deployment of Broadridge’s Portfolio Master (formerly Paladyne), a full asset class portfolio management platform with integrated risk and portfolio rebalancing capabilities, BP2S can now offer clients a fully integrated end-to-end outsourcing…
Harry Samuel to leave RBC
17JUL19: Harry Samuel is to leave RBC. Samuel has been CEO of RBC Investor & Treasury Services since 2013, and has been at the bank for 30 years. Although a direct replacement has not been announced, it is understood that Francis Jackson, who joined in 2015 as global head of client coverage, will assume responsibility…
Northern Trust hires Marisa Kurk as COO of Global FX business
17JUL19: Northern Trust has appointed Marisa Kurk as chief operating officer of the global foreign exchange business. Based in Chicago, Kurk will report to John Turney, head of GFX. Prior to joining Northern Trust, Kurk served as COO of Belvedere Trading, LLC and COO and senior managing director of currency management at Mesirow Financial.
Funds SA hands Northern Trust AUD34bn mandate
15JUL19: Funds SA, the superannuation fund owned by the Government of South Australia, has appointed Northern Trust for a AUD34bn (USD24bn) mandate to provide a master custody solution including asset servicing, investment administration and investment data services.