Following the recent changes in senior management, which saw Richard Godfrey depart and Sébastien Danloy installed as interim global head of securities services, HSBC’s securities services business is moving away from its sector structure and streamlining its governance framework. At the management level, the changes cover: Product: Suvir Loomba, previously head of direct custody &…
Category: Bank Providers
Portney gets major role at BNY Mellon
BNY Mellon has appointed Emily Portney as CEO of Asset Servicing, its largest business unit, effective Feb. 1, 2023. She will report to Roman Regelman, CEO of Securities Services and Digital, and continue as a member of the ExCo. Portney will also lead the company’s client commercialisation efforts, responsible for driving improved commercial margin outcomes…
Genus extends relationship with RBC
Genus Capital Management has implemented the middle office end-to-end post-trade execution service from RBC Investor Services. Genus, a longstanding RBC client, is a Vancouver-based independent investment management firm. The trade management service delivers 24/6 coverage for all markets, providing near real-time transparency on the complete post-execution trade lifecycle, broker performance, and settlement risk. Stephen Au,…
Viridium hires CTO from Citi
Jörg Günther has joined Viridium, a specialist in the management of life insurance portfolios, as chief technology officer. He was previously with Citi, where he was global head of securities services technology, joining in 2019 from Northern Trust, where he was CTO for EMEA and chief information officer for its Corporate & Institutional Services business
U.S. Bank promotes Breda Sullivan
U.S. Bank has given Breda Sullivan an expanded role as head of depositary, custody and banking for its European investment services business. Sullivan has been with U.S. Bank since 2017, and was previously head of depositary services in Europe. Her promotion follows the recent appointment of Didier Delvaux as head of global fund services for…
State Street and BBH call off deal
State Street and Brown Brothers Harriman have agreed to terminate State Street’s proposed acquisition of BBH’s investor services business. In a statement, State Street said: “After consideration of both regulatory feedback and potential transaction modifications to address that feedback, State Street has determined that the regulatory path forward would involve further delays, and all necessary…
Northern Trust partners with Saphyre
Northern Trust and Saphyre have automated the account opening process for clients of Northern Trust’s investment operations outsourcing business. The two firms collaborated on the solution, which provides a dynamic middle-office function to increase transparency and efficiency for events including account setup, account maintenance and asset transfer requests.
Sionic hires Sascha Calisan
Sionic, a UK-based consultancy, has appointed Sascha Calisan as a director in its asset management practice, where she will lead the firm’s distribution services capability. Calisan was previously head of fund distribution support at Northern Trust.
SGSS supports EIB DLT bond issue
The European Investment Bank (EIB) has launched Project Venus, its second euro-denominated digitally native bond issue and the first using private blockchain technology. The EUR100m two-year bond was issued, recorded and settled using private blockchain-based technology, and represents the inaugural issuance on Goldman Sachs’ tokenisation platform – GS DAP. Banque de France and the Banque…
Mal Cullen to become CIBC Mellon CEO
Mal Cullen has been appointed as CEO of CIBC Mellon. He will remain a member of the board of directors of CIBC Mellon Trust Company. Cullen will be returning to Canada to assume his new role. He replaces Steven Wolff, who will retire from CIBC Mellon effective December 30, 2022, after six years of leadership.…