Gareth Myburgh has left Citi after more than nine years. He was most recently head of platform solutions – Citi Velocity ETF, leading the design and delivery of Citi’s turnkey ETF issuance solution. The future of that platform was placed in doubt after Citi announced earlier this year its intention to “retire” the service after…
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Wally Barys takes new role at U.S. Bank
Walter (Wally) Barys has been appointed head of custody for asset managers at U.S. Bank. Barys, who joined in 2017 from Northern Trust, successfully transformed U.S. Bank’s agent bank network to move away from the BNY white label model. He will report to Alan Flanagan, global head of investment services.
Alter Domus appoints onboarding chief
Alter Domus, the Luxembourg-based private markets specialist, has appointed Suresh Gopal as head of global onboarding. Based in Singapore, he joins from HSBC, and reports to Babloo Sarin, global head of client delivery & APAC.
SEI expands TA service
SEI has expanded its transfer agency solutions with the launch of SEI Transfer Agency and Registry Services, Inc. to support a broader range of fund structures. Registered with the SEC, the business supports U.S.-based traditional and alternative asset managers offering SEC-registered, retail-distributed funds. It will leverage core technology from Envision Financial Systems, an investor accounting…
TMF appoints China head
TMF Group, the Netherlands-based provider of compliance and administration services, has appointed Aphro Hong as country head of China, based in Shanghai. She was most recently market head of accounting and tax for North Asia at TMF.
NSCC moves to 24/5 clearing
NSCC, a subsidiary of DTCC, has extended its clearing hours to 24×5 availability, from Sundays at 8:00 PM ET to Fridays at 8:00 PM ET, supporting overnight trading activity from alternative trading systems (ATS) and exchanges. The move enables NSCC to apply its central counterparty guarantee immediately to transactions executed across extended trading hours and…
BNY expands with Circle
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…
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…