Société Générale-FORGE (SG-FORGE), an integrated subsidiary of the group dedicated to crypto assets, is to launch a new stablecoin, the USD CoinVertible, on both the Ethereum and Solana public blockchains (ticker: USDCV). BNY will act as reserve custodian.
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U.S. Bank selects FRT
U.S. Bank has selected Financial Recovery Technologies (FRT) as its securities litigation service provider for custody clients. FRT provides comprehensive global class action monitoring, robust reporting, filing and recovery services. FRT will file class actions claims and antitrust suits on behalf of U.S. Bank custody clients enrolled in the service who hold impacted securities over…
Liontrust outsources trading
Liontrust, the UK-based active asset manager with GBP21.6bn AuM (USD29bn), has expanded its relationship with BNY with the outsourcing of its trading for investment funds and institutional accounts to BNY’s buy-side trading solutions group. Liontrust’s UK-based traders have joined BNY.
Wastone opens ManCo in UAE
Waystone, the European provider of specialist services to the global asset management industry, has launched a new onshore, independent ManCo and distribution company in the United Arab Emirates. The new ManCo will be led by Caoimhghin O’Donnell, who has relocated from Waystone’s Dublin office, where he led the firm’s third party ManCo operations in Ireland.
SimCorp appoints new CCO
SimCorp, the fintech owned by Deutsche Börse, has promoted Dean McIntyre to the role of chief commercial officer. He will continue to report to Oliver Johnson, chief revenue officer. McIntyre joined SimCorp in 2023 as director of strategy and then served as the company’s global head of commercial.
Allvue wins two mandates
Allvue Systems, an alternative investment technology solutions provider, has won two mandates: Symetra Investment Management Company has selected Allvue’s CLO solution to launch its inaugural collateralised loan obligation (CLO) offering. SIM, a registered investment advisor with approximately USD79bn AuM, closed Symetra CLO 2025-1, Ltd., a USD408m CLO transaction, earlier this year. Meanwhile, Luxembourg-based White Oak…
SCM consolidates with Ultimus
Ultimus has converted the Sterling Capital Management (SCM) mutual fund lineup to its servicing platform. An indirect subsidiary of Guardian Capital, SCM transitioned 18 mutual funds, encompassing 60 share classes and USD4.8bn in assets, as part of its continued efforts to enhance operational efficiencies and service capabilities. This transition expands the existing relationship between SCM…
Shah to quit BNY
Akash Shah, chief growth officer and head of growth ventures at BNY, has announced that he is stepping down to pursue new opportunities. He spent seven years at BNY under three different CEOs.
Centralis hires new CCO
Centralis Group has appointed Maarten Heukshorst as chief commercial officer, based in London. He was previously at a fintech.
Clearstream and Azimut collaborate
Clearstream, Deutsche Börse Group’s post-trade services provider, and Azimut, an independent group specialising in asset management across public and private markets and wealth management, have partnered to develop a new digital solution for private market funds. The collaboration addresses key challenges in the private market space, focusing on enhancing transparency, improving operational efficiency, and offering…