BBH has adopted the Recalls Manager module from Pirum, the post-trade services fintech that focuses on the securities finance industry. BBH has implemented Recalls Manager to reduce securities lending fails and leverage automation and real-time coverage to promote a smooth transition to the shortened T+1 settlement cycle. This expands BBH and Pirum’s long-standing relationship. BBH…
Richard
Waystone gets FCA approval for LTAF
Waystone, the European provider of specialist services to the asset management sector, has confirmed that the FCA, a UK regulator, has approved the WS Fulcrum Diversified Private Markets (H) Long Term Asset Fund (LTAF), a sub-fund of the WS Fulcrum LTAF. Waystone is the first independent ACD to have an LTAF approved by the FCA.…
Carnegie Fonder moves to UI
Carnegie Fonder, a Sweden-based asset management company, has selected Universal Investment Group as the new ManCo for its UCITS SICAV fund range in Luxembourg. Carnegie Fonder is part of Carnegie Group. The transfer includes a partnership with UI efa as the central administrator and transfer agent, with SEB as custodian. The SICAV, with several sub-funds,…
Terri Van Praagh to retire from NT
Terri Van Praagh is to retire from Northern Trust after a 41-year career in financial services. Van Praagh, who was most recently chief operating officer of Northern Trust’s global fund services business in the UK, will be replaced by Paul Smith, who is currently head of the GFS transformation office. He will report to Laurence…
Maples supports new CLO fund
The Maples Group has supported Lakemore Partners, a private credit investment firm, with fiduciary, legal and fund administration services for its Aquatine V fund structure. The fund, which allocates to U.S. collateralised loan obligations, raised USD560m on final closing.
BBH hires from BNY Mellon
Brown Brothers Harriman has hired Matthew Rouse as European head of product for financial institutions clients. Prior to joining BBH, Rouse spent eight years with BNY Mellon.
BNPP wins ETF mandate in Asia
BNP Paribas has been appointed as custodian and administrator for the newly launched Phillip-China Universal MSCI China A 50 Connect ETF which will be listed on the Singapore Exchange (SGX). This ETF aligns with the recently established ETF product link between SGX and the Shanghai Stock Exchange (SSE).
Permian selects Allvue
Allvue Systems, a U.S.-based alternative investment technology solutions provider, has been appointed by Permian Group to provide fund accounting and administration software. Permian is a Nordic fund administrator with offices in Oslo and Stockholm.
Knadel upgrades services
Knadel Software Solutions, the UK-based advisory and software firm, will now offer advisory services to the investment sector as a standalone offering. To reflect this development, the firm will be rebranding to Knadel Solutions Limited. Knadel has recruited Robert Hupe to run this new service, joining from Alpha FMC.
Absolute expands with Ultimus
Absolute Investment Advisers has expanded its relationship with Ultimus Fund Solutions to support a diverse slate of investment products. Over the past three years, Absolute has been enhancing its product lineup, launching an ETF along with the transition of four mutual funds and a hedge fund from another service provider to Ultimus. Absolute has c.…