BBH has automated account openings with Allfunds, a B2B wealthtech platform for the fund management industry. This digital and automated solution from BBH creates a standardised electronic messaging system to facilitate the end-to-end, straight-through processing API account opening solution, resulting in a much faster account opening time. By digitizing this process, users of the platform…
Category: Bank Providers
FundGuard raises USD100m
FundGuard, the cloud-native, AI-powered, multi-asset class investment accounting platform for asset managers, asset owners, custodians and fund administrators, has closed its Series C funding round, amounting to USD100m. This latest round of investment – led by Key1 Capital and new investors including Euclidean Capital and funds managed by Hamilton Lane – also had participation from…
CRD wins f/o mandate in Australia
Charles River Development, a State Street company, has been appointed by Perpetual Group to manage front office operations for its Australian asset management business. Perpetual’s Australian asset management business will adopt Charles River IMS to manage its domestic and global portfolios, order and execution, compliance, post trade processing and front office data. Perpetual completed the…
Northern Trust appoints Paulin to new role
Northern Trust has appointed Gary Paulin to the newly created role of head of international enterprise client solutions. Paulin will focus on strengthening relationships with key Northern Trust clients across EMEA and AsPac at the highest levels of their organisations. Paulin, who was most recently head of global strategic solutions for asset servicing, will continue…
State Street wins Brazilian mandate
State Street has been selected to provide fund accounting, fund administration and investor servicing for AZ Quest, an asset manager based in Sao Paulo, Brazil. State Street will provide these services to the AZ Quest Fund SPC and its segregated portfolios.
GSAM outsources trading to BNY Mellon
Goldman Sachs Asset Management has appointed BNY Mellon to provide buy-side trading services for a division of its EMEA business. As part of the agreement, BNY Mellon is delivering global trade execution services in EMEA, U.S. and APAC markets across fixed income, FX, derivatives and ETFs. BNY Mellon’s Buy-Side Trading Solutions unit supports institutional clients…
BBH adopts Pirum’s Recalls Manager
BBH has adopted the Recalls Manager module from Pirum, the post-trade services fintech that focuses on the securities finance industry. BBH has implemented Recalls Manager to reduce securities lending fails and leverage automation and real-time coverage to promote a smooth transition to the shortened T+1 settlement cycle. This expands BBH and Pirum’s long-standing relationship. BBH…
Waystone gets FCA approval for LTAF
Waystone, the European provider of specialist services to the asset management sector, has confirmed that the FCA, a UK regulator, has approved the WS Fulcrum Diversified Private Markets (H) Long Term Asset Fund (LTAF), a sub-fund of the WS Fulcrum LTAF. Waystone is the first independent ACD to have an LTAF approved by the FCA.…
Terri Van Praagh to retire from NT
Terri Van Praagh is to retire from Northern Trust after a 41-year career in financial services. Van Praagh, who was most recently chief operating officer of Northern Trust’s global fund services business in the UK, will be replaced by Paul Smith, who is currently head of the GFS transformation office. He will report to Laurence…
BBH hires from BNY Mellon
Brown Brothers Harriman has hired Matthew Rouse as European head of product for financial institutions clients. Prior to joining BBH, Rouse spent eight years with BNY Mellon.