Northern Trust has selected FINBOURNE Technology, the UK-based fintech, to provide valuations and reporting capabilities for its enterprise global technology. Northern Trust will leverage FINBOURNE’s cloud-native financial data management solution, LUSID, and data virtualisation engine, Luminesce, to modernise its valuations and reporting functions and provide enhanced service delivery to clients.
Category: Bank Providers
BK hires head of alts
BNY Mellon has hired Elliott Brown as head of alternatives for the asset servicing business. Based in New York, he reports to Christine Waldron, global head of fund services. He was previously at Citco and has also worked at Apex and J.P. Morgan.
BNPP wins Chenavari PC mandate
Chenavari Asset Management has appointed BNP Paribas to provide private capital services for its newly launched Real Estate Decarbonisation Fund. BNP Paribas will provide depositary, registrar, accounting manager and middle office services. The bank will also provide digital reporting capabilities through its CapLink Private platform.
HSBC executes first HK digital bond repo
HSBC has executed a Hong Kong dollar repo transaction with The Bank of East Asia, Limited (BEA), which used Hong Kong government digitally native green bonds as collateral for financing purposes. This is understood to be the first repo in Hong Kong involving digital bonds. Using HSBC Orion as the digital assets platform, HSBC helped…
State Street wins LGPS PA mandate
LGPS Central, which manages GBP56bn (USD71bn) on behalf of eight UK local government pension schemes, has appointed State Street as provider of fund administration services for its private markets investments. State Street will initially support 13 funds managed by a combination of LGPS Central and its third-party managers with fund administration, registration services, investor services…
BNPP wins EUR110bn Italian mandate
BNP Paribas has been selected by BPER Banca to provide custody and settlement services for the complete portfolio of BPER Banca’s Italian and foreign securities, representing a total of EUR110bn (USD120bn) of assets. The mandate consolidates BPER Banca’s multi-year partnership with BNP Paribas, which includes settlement services for selected institutional clients’ portfolios. Founded over 150…
U.S. Bank launches firmwide PA unit
U.S. Bank has launched a new division dedicated to serving private capital firms and global asset managers. The private capital and global asset management division (PCGAM) brings together all parts of the bank that currently serve more than 200 private capital clients with a range of products and services, including fund custody and administration as…
NTRS appoints new Lux chief
Northern Trust has appointed Olivier Noël as country head of Luxembourg and leader of its Luxembourg-based asset servicing business. He replaces Steve David, who left to join FundBank. Noël also assumes the position of CEO of Northern Trust’s European Union (EU) bank, Northern Trust Global Services SE, following approval by its board. He will become…
Foley makes partner at BBH
Orla Foley is amongst six new general partners announced by BBH. Foley joined BBH in 1997 and is currently global head of relationship management for investor services, based in Boston.
SAMI consolidates with NTRS
Sanlam Asset Management (Ireland) Limited (SAMI) has appointed Northern Trust to provide fund administration, transfer agency, custody, depositary and FX services. SAMI is an investment management platform managing funds domiciled in Ireland valued at USD8.7bn. It is part of the Sanlam financial services group headquartered in South Africa. Northern Trust is now the sole provider…