The board of abrdn plc, formerly Standard Life Aberdeen, which has GBP535bn (USD743bn) AuM, has appointed Hannah Grove as a Non-Executive Director from 1 September 2021. Melanie Gee will stand down from the board at the conclusion of her second three-year term of appointment on 31 October 2021. Grove will succeed Gee as the board…
Category: Bank Providers
Andy Clayton retires from Northern Trust
Andy Clayton has retired from Northern Trust after a 35-year career with the firm. Clayton held a number of senior positions with the securities finance and capital markets business lines, most recently as head of Northern Trust’s capital markets division in EMEA. He has also run the global securities lending business. His retirement is the…
J.P. Morgan makes senior custody appointments
Scott Markowitz has joined J.P. Morgan to head its Americas direct custody business. Markowitz spent four years at HSBC, most recently heading the securities services business in the Americas, following 16 years at BNY Mellon. J.P Morgan has also appointed Tom Casteleyn as head of global custody for EMEA, including responsibility for UK direct custody.…
BNY Mellon wins award for best workplace for innovators
Whilst it is my editorial policy not to feature news about industry awards – most of which are worthless – this one is notable, as it demonstrates how far BNY Mellon has come in the last three years. BNY Mellon has been named one of Fast Company’s Best Workplaces for Innovators for 2021. This annual…
GK8 partners with Securrency
GK8, an Israel-based cybersecurity and digital asset custodian, has partnered with fintech company Securrency to provide banking clients with institutional-grade blockchain services. The partnership centres around GK8’s enterprise-grade custody solutions, which will become available to Securrency’s clients as it builds its tokenisation infrastructure. Securrency’s main focus is tokenising real-world assets such as stocks, commodities and…
BNP Paribas granted QFI licence in China
BNP Paribas has been granted a licence to provide custody services for China’s Qualified Foreign Investor (QFI) scheme. BNP Paribas can now directly support foreign institutional investors across the full scope of schemes, allowing access to China’s equities and bond markets, in addition to providing FX services. BNP Paribas China Limited was one of the…
HSBC hits USD10trn AuC
For H1 2021, HSBC’s assets under custody rose to more than USD10trn, following a 30pct year-on-year increase. Its AuA reached USD2.9trn. Over the same period, revenues for the securities services business rose by 3pct.
Jeslyn Tan joins State Street as AsPac product development head
State Street has appointed Jeslyn Tan as Asia Pacific head of product management. Based in Singapore, Tan will will report globally to Brenda Lyons, global head of asset servicing product, and regionally to Mostapha Tahiri, chief executive officer for Asia Pacific. Tan joins from Deutsche Bank, where she was most recently global head of product…
Citi gets green light for China fund services
Citibank (China) Co., Ltd. has received final approval from the China Securities Regulatory Commission to launch securities investment fund custody services onshore. Citi is the first major global custodian to be authorised to operate a domestic Chinese fund custody business. Separately, Citi has opened an office at the Busan International Finance Center (BIFC) in Korea.…
State Street partners with Lukka for crypto asset admin
State Street is to provide digital and cryptocurrency asset fund administration capabilities for the firm’s private funds clients in partnership with Lukka, a crypto asset data and software provider. State Street will support its private fund clients with collection, standardisation, enrichment, reconciliation, processing and reporting related to crypto and other digital assets. The partnership comes…