The Bank of New York Mellon SA/NV, BNY Mellon‘s European Bank, has established a new branch in Poland. From April 2023, the branch in Wroclaw will support the work of the European Bank and other BNY Mellon legal entities delivering administrative and operational support services. BNY Mellon has had a presence in Wroclaw since 2010.…
Category: Product
Citco enhances waterfall tool
Citco has enhanced its Citco Waterfall tool to enable clients to customise and calculate forward-looking investor distributions and carried interest scenarios on their desktop. The Scenario Modeling enhancement, which is also available as an add-on service within the Citco Waterfall tool, allows clients to generate carried interest projections through a step-by-step wizard, enabling them to…
Pirum extends connectivity with BNY Mellon
Pirum, the UK-based fintech, has extended its connectivity with BNY Mellon through its collateral management platform, CollateralConnect, to allow mutual clients to self-direct triparty collateral allocations using its optimisation algorithm. By leveraging Pirum’s existing market-wide connectivity, the platform now offers a full front-to-back solution to support enterprise-wide optimization across fixed income, securities finance and derivatives.…
Aztec opens in Ireland
Aztec, the C.I.-based alternatives administrator, has established a presence in Ireland with a hub in Kilkenny. This follows the appointment in 2022 of Kevin Hogan as head of Ireland fund services. Hogan joined from State Street. A recruitment drive is now underway to build a team of approximately 30. The roles will cover private equity,…
Zodia registers in Luxembourg
Zodia Custody, the UK-based crypto custodian owned by Standard Chartered and operated in association with Northern Trust, has registered its Irish unit with Luxembourg’s financial regulator, CSSF. The registration will allow Zodia to provide digital asset custody services in Luxembourg.
Formidium launches private markets platform
Formidium, the U.S.-based administrator, has launched Private Fund Admin, a technology platform that it claims will streamline the private fund administration process. Private Fund Admin aims to address the complexities associated with unique structures (cross-border and single/multiple LLC structures), the wide range of private fund administration services (fund setup, ongoing operation/administration solutions, investor KYC/AML, NAV…
Redwheel adopts EDS ESG solution
Redwheel, a UK-based asset manager with c. USD19bn AuM, has adopted the data aggregation tool developed by Equity Data Science to enhance ESG integration across its investment business. Northern Trust took a stake in EDS in 2021 and jointly launched an ESG workflow solution that allows investors to access and share ESG information. The data…
SIX to provide data to FundGuard
SIX has agreed a deal with FundGuard, the SaaS investment accounting platform provider, to deliver global pricing, market and reference data to asset managers, asset owners, and asset servicers. The deal integrates SIX’s end-of-day market prices, core security master data and corporate actions notifications, offering access to clients using FundGuard’s IBOR, ABOR and NAV contingency…
Formidium launches consulting service
Formidium, a U.S.-based provider of fund services and back-office technology solutions, has launched Razor State Consulting. Razor State addresses back-office pain points by providing businesses with financial accounting and operations support. Razor State’s services fall broadly under two categories: accounting and services for fund management companies (ManCo services), and corporate accounting and services for pre-IPO…
Apex launches ESG DaaS platform
Apex has launched an ESG data as a service platform for the private markets. Apex has been collecting, verifying and examining private market ESG data from more than 400 GPs, and 1,500 portfolio companies in more than 45 countries since 2019, compiling a proprietary and verified ESG database for benchmarking performance. The database will include…