Ocorian, the C.I.-based administrator, has hired two new staff in London. Kristina Rowe joins as head of client services for the UK. She was previously at State Street. Jamie Riley joins from Intertrust as a business development director.
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Alter Domus opens office in Tokyo
Alter Domus has opened an office in Tokyo. Scott Reynolds has been hired as the group’s country executive for Japan, reporting to Alexander Traub, the regional executive Asia Pacific. Reynolds joins from Deloitte Tohmatsu LLC.
CIBC Mellon launches asset servicing solution for PTFs
CIBC Mellon has launched an asset servicing solution for platform-traded funds (PTFs) on NEO Connect, a new low-cost distribution channel accessible to all investors, asset managers and their dealers. PTFs are typically a class or series of an existing investment fund that investors can buy or sell on the NEO Connect platform, at an end-of-day…
Victory appoints Citi for additional USD80bn of USAA assets
Citi has been appointed by Victory Capital to provide fund administration, custody, ETF services and securities lending for Victory’s most recent acquisition, USAA Asset Management. The new mandate resulted in the transfer of servicing for 53 mutual funds and ETFs to Citi, representing approximately USD80bn in assets. This new mandate expands Citi’s existing relationship with…
UK’s House of Fraser pension fund appoints Northern Trust
Northern Trust has been selected by The House of Fraser Beatties & Jenners Pension Scheme to provide global custody and valuation reporting services to its defined benefit pension scheme. The GBP800m pension scheme has approximately 10,000 scheme members across the UK.
State Street hires Bob Dollard as head of U.S. asset owner rel mgt
State Street has hired Bob Dollard as head of U.S. asset owner relationship management. He reports to Rob Baillie, the recently appointed head of North American asset owners. Dollard joins from BNY Mellon, where he was U.S. segment head for the public fund, Taft-Hartley, and the outsourced business.
MEAG executes bond trade in China via HSBC
MEAG, the asset manager for Munich RE and ERGO, has become the first German investor to execute a bond trade in the Chinese capital market via Bond Connect. HSBC in Germany enabled settlement of the underlying transaction as well as the related FX. Tradeweb was used as the electronic trading system to execute the transaction…
IQ-EQ hires Cecilia Cheung as HK country head
Cecilia Cheung has joined IQ-EQ (formerly SGG Group) as country head of its Hong Kong business. She will also serve as a member of the Asia executive leadership team. Before joining IQ-EQ, Cheung was country head for SANNE in Hong Kong.
BNY Mellon CEO Scharf moves to Wells Fargo
Charles Scharf has been appointed president and CEO of Wells Fargo. Scharf is leaving his job as chairman and CEO of BNY Mellon, which he joined in 2017. BNY Mellon has announced that Todd Gibbons, vice chairman and CEO of clearing, markets and client management, has been appointed as interim CEO and a member of…
CUNA Mutual selects SS&C Precision LM for loan admin
CUNA Mutual Group has selected SS&C Precision LM to streamline the origination, servicing, accounting, asset management and regulatory reporting of its commercial mortgage loan portfolio.