Clearstream has completed the acquisition of a majority stake in UBS’s fund distribution platform, Fondcenter AG. Clearstream and UBS signed an agreement under which Clearstream has now acquired a 51.2pct stake in Fondcenter for CHF389m. Clearstream will combine the Fondcenter business with its existing Fund Desk, forming Clearstream Fund Centre, a global fund distribution support…
Category: Headlines
Finomial launches e-subscription service for alt funds
Finomial, a client lifecycle management platform, has launched Finomial Electronic Subscriptions to digitise the manual subscription process. With this product, Finomial claims to offer a complete solution for alternative investment managers and their fund administrators, including investor compliance, on-boarding, capital activity, collaboration, and regulatory reporting to global authorities. The service provides investors with an easy-to-use,…
Northern Trust launches portal for Canadian benefit plan participants
Northern Trust Canada has launched an online portal, Benefit Payment Participant Passport, enabling advanced automation for participants of Canadian benefit plans. The portal allows pension and benefit plan participants to access their program information in real time, 24 hours a day, seven days a week, in French or English. The self-service option supplements mailings, call…
CACEIS to service EUR1bn PE fund for ArchiMed
CACEIS has been selected to service the new MED Platform I fund run by ArchiMed, a private equity firm specialising in the healthcare sector. The mandate covers depositary bank, custody, middle-office, fund accounting and financing services for the fund, which reached a EUR1bn final close.
TMF to acquire Selectra ManCo in Luxembourg
TMF Group and Farad Group have signed an agreement for the acquisition of Selectra Management Company by TMF Group from Farad Group. Completion of the transaction is subject to regulatory approvals from the Commission de Surveillance du Secteur Financier. Selectra is a regulated management company based in Luxembourg, servicing both AIFs and UCITS.
Citi extends partnership with Netwealth to include E2C
Citi has agreed to extend its partnership with Netwealth, a fund platform based in Australia, as its provider of global custody, global and domestic equities execution and fund administration. Netwealth will be the first Australian wealth platform to have access to Citi’s Execution to Custody (E2C) service, which provides global execution, settlement and custody services…
J.P. Morgan chooses H4 to improve document management
J.P. Morgan has chosen H4 to help improve the client contract onboarding experience, reuse data contained in documents, and build a digital library. H4 and J.P. Morgan have piloted the new documentation platform in the global custody business, with a view to rolling it out across the securities services business. In May 2020, J.P. Morgan…
Ultimus appointed as transfer agent by Domini Impact Investments
Ultimus Fund Solutions, a U.S. based independent administrator, has been selected as transfer agent by Domini Impact Investments LLC, an impact investor based in New York. Domini appointed Ultimus to provide transfer agency, including customised shareholder services, to the four Domini Impact Funds, with over USD2bn AuM. Ultimus completed the conversion process in June 2020.
Sanne buys Deutsche Bank’s trust & agency business in Japan
Sanne, a UK-listed provider of alternative asset and corporate services, has acquired Deutsche Trust Company Limited Japan, Deutsche Bank’s trust and agency services business in Japan. The company will operate its trust business under the new name, Sanne Group Japan Trust Company.
State Street hires Nils Hoffmann as EMEA client executive
Nils Hoffmann has joined State Street as a client executive for Europe, Middle East and Africa. Based in Frankfurt, he will report jointly to Silvio Angius, a leader of the global clients division, and Stefan Gmuer, chief executive officer for State Street International. In this role, he will be responsible for the strategic direction and…