State Street has confirmed that, following a review, it expects BlackRock to move a “significant portion of its ETF assets currently with State Street to one or more other providers, pending necessary approvals”. The transition is expected to begin in 2022 but will principally occur in 2023. In 2017 BlackRock moved USD1trn of common trust…
Category: State Street
State Street wins EUR42bn mandate from Fideuram in Luxembourg
Fideuram – Intesa Sanpaolo Private Banking, part of the Intesa Sanpaolo Group, has appointed State Street in Luxembourg to assume the depositary bank and fund administration activities presently performed by its subsidiary, Fideuram Bank Luxembourg. The mandate covers c. EUR42bn (USD51bn) AuM. The completion of the transaction, which is conditional on regulatory approvals, is expected…
State Street appoints Theresa McLaughlin as global CMO
State Street Corporation has appointed Theresa McLaughlin as global chief marketing officer, with responsibility for marketing, branding, creative, communications, media, thought leadership, and events, inter alia. McLaughlin joins from TD Bank Financial Group where she was global chief marketing, customer experience & corporate citizenship officer for the past eight years. Based in Boston, she will…
BNY Mellon launches digital assets unit
BNY Mellon has established a Digital Assets unit that will accelerate the development of solutions and capabilities to help clients address growing and evolving needs related to the growth of digital assets, including cryptocurrencies. The cross-functional, cross-business team, which will be led by Mike Demissie, head of Advanced Solutions at BNY Mellon, is currently developing…
Citi hires two senior regional sales heads from State Street
Citi has made two senior sales appointments in its custody & fund services (CFS) business. Maria Cantillon joins as head of CFS sales for EMEA, a position that has been open since Matthew Bax moved to run the direct custody & clearing business in 2020. She will report to Sanjiv Sawhney, global head of CFS,…
Rest Super selects Charles River IMS for front and middle office operations
Retail Employees Superannuation Trust (Rest), one of Australia’s largest industry superannuation funds with approximately 1.8 million members, has selected Charles River IMS to consolidate its front and middle office operations for managing asset allocation, global equities, fixed income, FX and futures. Rest will implement Charles River IMS to support its internally managed investments as well…
CIBC Mellon and State Street are winners as BlackRock fires Scotiabank
BlackRock Canada, an indirect, wholly-owned subsidiary of BlackRock, Inc., has announced changes to the custodian line-up for its iShares Gold Bullion ETF and iShares Silver Bullion ETF. CIBC Mellon Trust Company will act as bullion custodian for the iShares Funds, and State Street Trust Company Canada as custodian of the non-bullion assets of the iShares…
LACERA expands relationship with State Street
State Street has expanded its relationship with Los Angeles County Employees Retirement Association (LACERA). State Street will now provide additional solutions for performance and analytics, as well as alternative administration for LACERA’s real estate assets. LACERA, one of the largest county retirement systems in the U.S., is an independent government entity that administers and manages…
Vontobel signs for State Street Alpha
Vontobel Asset Management, the Swiss asset manager with CHF120bn (USD135bn) AuM, has signed a multi-year service agreement with State Street, under which Vontobel will deploy State Street Alpha, the integrated front-to-back investment servicing platform. The partnership will include front office technology, investment operation services, Alpha data services and liquidity risk solutions. Felix Lenhard, Vontobel COO…
Perpetual switches to State Street in Australia
Perpetual Investment Management Limited, the Australia-based asset manager, has appointed State Street to provide custody and fund administration services. State Street will provide core custody, middle office, administration, valuation, accounting and tax reporting services to the funds managed by Perpetual. In addition, Perpetual will leverage State Street’s enterprise data platform to manage data across the…