Kingdom Trust, a South Dakota-based custodian bank that has >USD13bn AuC, has launched a retirement account that supports legacy, alternative, and crypto assets. The launch of the account – Choice – follows the acquisition of Choice Holdings, a digital asset-focused retirement account provider. Kingdom Trust already backs more than 100,000 retirement accounts and provides custody…
Category: Product
FundRock rolls out liquidity management tool
FundRock, the Luxembourg-based third-party ManCo and AIFM, has launched a new unbundled service to assist asset management firms with liquidity management. The service is available to EU and non- EU asset managers managing EU funds for which FundRock is not acting as ManCo/AIFM. Its launch comes as regulators prepare to implement new guidelines for liquidity…
Citco partners with Financial Recovery Technologies
Citco, a provider of asset servicing solutions to the alternative investment industry, has partnered with securities class action recovery service provider, Financial Recovery Technologies. FRT works with over 800 firms to help institutional investors monitor litigations, identify eligibility, file claims and collect funds made available in shareholder class action, global and antitrust settlements. Through this…
EFA selects i-Hub as AML/KYC platform
EFA, the Luxembourg-based administrator, has chosen i-Hub as its platform for customer due diligence (AML/KYC) services. i-Hub, a wholly owned subsidiary of POST Luxembourg, was conceived and built in Luxembourg to serve the needs of the international banking and investment fund industries. EFA and i-Hub have defined a set of APIs that allow EFA to…
State Street joins forces with Coremont to offer E2E service for hedge fund managers
State Street has entered into an alliance with Coremont, the operations specialist that was spun out from Brevan Howard, a UK hedge fund manager. The alliance will provide fully integrated outsourcing services for hedge fund managers, covering front, middle and back office operations, combining Coremont’s portfolio management analytics and support with State Street’s asset servicing…
BP2S begins securities operations in Mexico
BNP Paribas Securities Services has begun operations in Mexico. Through an existing BNP Paribas subsidiary – BNP Paribas Asset Management México, S.A. de C.V. Sociedad Operadora de Fondos de Inversión – BP2S began its Mexico operations in March, providing daily accounting and valuation services as well as tax pricing and regulatory reporting. The Mexico office…
CSC to open in Dublin
CSC, the privately owned U.S.-based provider of alternative fund administration and corporate services, has been licensed by the Central Bank of Ireland to establish a fund services operation in Ireland. Liam McHugh, managing director of fund services for CSC, will head the Dublin office, with a senior management team including David Barry as head of…
Northern Trust launches cloud-based version of Online Report Center
Northern Trust has launched a new version of its most popular client-facing tool, Online Report Center, as a cloud-based service with a redesigned user interface, available through its Passport client portal. New features include: Enhanced scheduling and interactive reporting and report packaging capabilities; Event-based and time-based report generation triggers; and Secure email attachments, email notifications,…
Citi spins off Proxymity into industry-owned utility
Proxymity, the digital investor communications platform developed within Citi‘s investor services business, has raised USD20.5m from eight market participants and will become a global, industry-led consortium. The consortium is comprised of BNY Mellon, Citi, Clearstream, Computershare, Deutsche Bank, HSBC, J.P. Morgan, and State Street. The Proxymity team will be based in London, with a technology…
Intertrust selects Wall Street Office for loan administration
Intertrust, the Netherlands-based provider of administration and corporate services, has automated its loan administration, cash management and facility agent services by integrating its platform with IHS Markit’s Wall Street Office (WSO). The WSO platform is a scalable, cloud-based solution that will enable Intertrust to provide its fund and capital markets clients with a more efficient…