State Street has been appointed to provide custody and fund order services for Confuturo, a Chile-based insurance company that is one of the largest providers of annuities in the country. In 2022 State Street opened an office in Chile.
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ALC taps Equity Trustees for new fund range
AL Capital, the Australia-based investment and fund management arm of Aqualand Group with c. AUD300m (USD205m) AuM, has selected Equity Trustees to be the responsible entity (trustee) of its new range of retail funds, the ALC Global Credit Fund, ALC Active Australian Equity Fund and ALC Active Global Equity Fund.
Gen II to buy Crestbridge PA business
Gen II Fund Services, a U.S.-based independent private capital fund administrator, has signed a definitive agreement to acquire the private capital administration business of Crestbridge, a UK-based provider. The transaction is expected to close following customary regulatory approvals. Terms of the transaction were not disclosed. Crestbridge Family Office Services, which is not part of this…
MUFG to boost banking solutions
MUFG Investor Services, which has USD770bn AuA, plans to expand its banking solutions to address client demand for payment and cash management services. To support this strategy, Adil Rehman has been appointed managing director, global head of payments and liquidity. Rehman was most recently international head of transaction banking at Goldman Sachs.
Northern Trust builds links with Singapore digital think tanks
Northern Trust, the National University of Singapore’s School of Computing (NUS Computing) and Asian Institute of Digital Finance (NUS AIDF) have embarked on a series of research and industry development initiatives to advance efforts to define the future of blockchain for institutional investors. The partnership includes: A joint research project on custody in the age…
Alger moves to BNY Mellon
Fred Alger Management, LLC, a privately-owned USD22bn growth equity investment manager, has appointed BNY Mellon to provide global fund services, as well as portfolio accounting, performance measurement and data management solutions. Alger expects to complete this transition by early 2024. Two of the outgoing providers are thought to be BBH as custodian, and UMB as…
Apex wins in South Africa
Apex has been appointed by PAPE Fund Managers (Pty) Ltd (PFM), a division of PAPE Group (Pty) Ltd, a South Africa-based private equity fund manager, to provide fund administration services. PFM acts on behalf of the PAPE Fund 3 Limited Liability Partnership comprised of nine investor groups. Apex will provide fund administration services to Fund…
Ocorian hires from BNY Mellon
Ocorian, the C.I.-based provider of corporate and fiduciary, fund administration, and capital markets services, has appointed Christoph Schwarz as business development director, capital markets, focusing on financial institutions and law firms in the UK and Europe. Based in London, he was previously at BNY Mellon in its corporate trust team.
ZEDRA adds to fund solutions team
ZEDRA, the Switzerland-based administrator, has appointed Mark McKeary as commercial director to support its global fund solutions team. Based in London, he reports to Wim Ritz, global head of funds. He was previously at Intertrust.
Citi wins NHI&S mandate
Citi has been selected by NH Investment & Securities Co., Ltd. (NHI&S) as its global custody provider as NHI&S expands its business model to include trustee services for private investment funds in South Korea. Founded in 1969, NHI&S is one of South Korea’s largest securities firms. Citi currently provides NHI&S with FX services as well…