Arizona State Retirement System (ASRS) has returned to BNY Mellon as asset servicing provider for the USD49.1bn ASRS Trust Fund. BNY Mellon will provide custody, alternative asset servicing, overnight investment vehicles, securities lending, performance analytics and investment compliance monitoring for the fund, which serves employees of the state, counties, municipalities, universities, community colleges, school districts,…
Richard
K2 appoints State Street for ETH ETF
K2 Asset Management has appointed State Street Australia Limited as the fund administrator in Australia for the Cosmos Purpose Ethereum Access ETF (Cboe: CPET). CPET’s underlying asset is the Purpose Ethereum ETF which is managed by Purpose Investments and quoted on the Toronto Stock Exchange. The Purpose Ethereum ETF has been established to buy and…
Dick Feehan R.I.P.
It is with a heavy heart that I have to report the death of Dick Feehan. Whilst the label “industry legend” is often abused, Dick was the real deal. Everyone who knew him felt that they were his best friend. His professional life, most notably at Chase and Bankers Trust, was a blueprint for salespeople…
HSBC appoints head of APAC & MENAT
HSBC has appointed Rafael Moral as regional head of Asia-Pacific & MENAT for its securities services business. Based in Hong Kong, he will report to Richard Godfrey, global co-head of securities services and co-head of securities financing. Moral is currently head of strategy for markets & securities services. He replaces Brian Godins, who retired earlier…
Northern Trust teams up with Commcise
Northern Trust has enhanced the commission management process for its Integrated Trading Solutions clients through a collaboration with Commcise, a provider of cloud-based software solutions, including commission management and aggregation services, research valuation, consumption tracking and share-of-wallet reporting. The Commcise platform provides managers with automated soft dollar reconciliation, invoice/contract management, commission targeting, broker voting, commission…
BP2S makes senior hire for Americas
BNP Paribas Securities Services has appointed Chris Richmond as head of the asset owner, asset manager and alternatives client lines for the Americas. He will report to Dennis Bon, head of BNP Paribas Securities Services in the Americas, Arnaud Claudon, global head of asset managers and owners, and Patrick Hayes, global head of alternative investors.…
ODDO BHF outsources German fund administration
ODDO BHF Asset Management, the Franco-German group which has EUR142bn AuM (USD152bn), is to outsource the administration of its German mandates to Universal Investment. This covers the accounting and support of special (Spezialfonds) and mutual funds with a value of c.EUR20bn (USD21bn). Universal Investment will eventually take over significant parts of fund accounting and administration.…
Crestbridge names global head of governance services
Crestbridge, the C.I. based administrator, has appointed Alex Le Quesne as group head of governance services. He will be responsible for managing the operational and financial performance of its institutional governance services globally, including management company, director, client compliance, depository, trustee, appointed representative and operator services. He previously led Crestbridge’s real estate fund services team.
Copper & Frick named as custodians for new 21Shares ETP
21Shares, the Swiss-based manager that claims to be the world’s largest issuer of crypto ETPs, has launched the 21Shares USD Yield ETP (USDY), which provides exposure to US Dollars while using the collateral (USDC) to seek to generate income from the digital asset lending ecosystem via a fully collateralised ETP structure. Listed on the SIX…
Accelerate appoints Tetra for NFT ETP
Accelerate Financial Technologies Inc., a provider of alternative investment solutions, has selected Tetra Trust Company as custodian for Accelerate’s digital assets. Initially, the Accelerate NFT Fund LP, the first Web3 investment vehicle in Canada, will deploy Tetra’s custody solution which enables clients to store and settle their digital assets within a secure environment. Calgary-based Accelerate…