BNY has expanded relationship with Circle Internet Group, Inc. as part of new stablecoin enablement capabilities for institutional clients. Circle’s USDC will be the first stablecoin on BNY’s digital asset custody platform, enabling BNY clients to store, transfer, mint and burn USDC. This expands BNY’s role as primary custodian of USDC reserves. BNY clients can…
Year: 2026
State Street upgrades in KSA
State Street’s fully owned subsidiary, State Street Saudi Arabia Financial Solutions, has upgraded to a Managing Investment and Operating Funds (MIOF) licence from the Capital Market Authority in Saudi Arabia, enabling the firm to offer local fund administration services in Saudi Arabia. While State Street has previously supported clients in Saudi Arabia through its global…
FundBank rebrands
FundBank Group, a banking provider to the asset management industry, has rebranded to IRACE Digital. The rebrand “marks the group’s shift from a traditional institutional banking platform to an integrated infrastructure provider supporting institutional activity across both traditional and digital asset markets”. Building on FundBank’s existing institutional banking infrastructure, and subject to regulatory approvals, IRACE…
Aztec supports Norvestor fund launch
Aztec, the C.I.-based alternative funds administrator, has supported long-standing client Norvestor, a private equity manager, on the final close of Norvestor X SCSp, which raised EUR2bn (USD2.3bn) at its hard cap. Aztec provides fund administration, investor onboarding and transaction support services to Norvestor X from its Luxembourg office. Since 2009, Aztec has supported Norvestor across…
Fenergo hires CRO
Fenergo, the Europe-based provider of AI-powered client lifecycle management solutions for financial institutions, has appointed Lekshmi Nair as its new chief revenue officer. Based in London, Lekshmi joins Fenergo’s executive leadership team and will lead the company’s “global go-to-market organisation, driving revenue growth, strengthening customer relationships and scaling Fenergo’s commercial operations as the company enters…
Apex expands in NZ
Apex has entered into an agreement to onboard Mercer New Zealand’s fund administration operations. The agreement is expected to be completed in the fourth quarter of 2026. Apex has an established fund administration, custody, transfer agency and wealth administration business in New Zealand, with >200 employees providing outsourced administration services across KiwiSaver, superannuation and investment…
Alchelyst links to Allfunds
Alchelyst, the Ireland-based investor solutions and infrastructure provider for private markets asset managers, has established a partnership with Allfunds Blockchain, the world’s largest B2B fund distribution platform, to help private markets asset managers process investor transactions more efficiently, reducing errors and administrative friction. The partnership introduces Alchelyst×Allfunds Blockchain API, an API-driven, permissioned blockchain integration that…
Summit selects FINBOURNE
Summit Group, a C.I.-based provider of fiduciary, fund and advisory services, has selected FINBOURNE Technology as its strategic fund administration platform. The appointment forms part of Summit’s growth and investment strategy, building on its 2025 acquisition of R&H Jersey and the expansion of its presence and service capabilities. Summit has offices in Jersey, Guernsey, Switzerland,…
Global X selects Citi in Australia
Global X has selected Citi as the new custodian and fund administrator for its Australian ETF business. Global X ETFs was founded in 2008 and has >USD165bn AuM. Global X is a member of Mirae Asset Financial Group with >USD800bn AuM.
NTRS supports inaugural TirNua fund
Northern Trust has been appointed by TirNua Capital Partners to provide fund administration, depositary and banking services for the firm’s inaugural infrastructure fund. The fund has secured EUR340m (USD390m) in commitments at first close. The Ireland-domiciled fund is structured as a closed-end Investment Limited Partnership (ILP). Headquartered in Dublin, TirNua is a private markets investment…