U.S. Bank has been appointed by Valkyrie Funds, LLC, a U.S. manager focused on the digital asset class, to provide fund administration services for the recently launched Bitcoin Strategy ETF. The futures contracts held by the fund are cash delivered and available from CME Group. The fund is the first in a planned suite of…
Category: Bank Providers
State Street hires senior managers for Australia & SE Asia
State Street has appointed Tim Helyar as head of Australia and Kevin Hardy as head of Singapore and Southeast Asia. Both report to Mostapha Tahiri, chief executive officer for Asia Pacific. Helyar joins after almost two decades at J.P. Morgan Investor Services where he was most recently head of fund services product development for Asia…
Fidelity mandates SGSS for securities lending
Société Générale Securities Services in France has been mandated by Fidelity International to provide securities lending services. The asset management company, FIL Gestion – Fidelity International, has been a client since 2011. Fidelity International is an independent company providing investment solutions and services, as well as retirement-related expertise, to more than 2.5 million clients worldwide.…
State Street records first P2P repo trade
State Street has closed the first transaction within its peer-to-peer repo program following its launch earlier this year. The trade was executed between a large asset owner and a non-traditional investment manager. The program seeks to facilitate overnight and term repo trading between buy-side counterparties, including traditional and non-traditional asset managers, asset owners, insurers, corporates,…
HSBC hires Matt Bowen to head Americas securities financing
HSBC has hired Matt Bowen as head of securities financing, Americas. He is based in New York and reports to Loic Lebrun, global head of prime finance, and Jean-Michel Meyer, global head of repo. He joins from BNP Paribas where he was head of US prime finance platforms. HSBC’s securities financing business includes prime finance,…
CACEIS implements Cardabel for MO
CACEIS has implemented Cardabel‘s machine learning technology for its middle office. Cardabel is a French fintech company specialising in financial data analytics.
BP2S signs EUR16bn deal with Van Lanschot Kempen
BNP Paribas Securities Services has signed a strategic partnership with Van Lanschot Kempen (VLK) which includes two new mandates covering EUR16bn in assets (USD18.5bn). VLK is a Netherlands-based specialist independent wealth manager. As part of this partnership, BP2S will provide Kempen Capital Management, the asset management arm of VLK, with global custody, depositary bank, fund…
Chris Cox heads for senior TTS role with Citi
Chris Cox has been appointed as global head of trade and working capital solutions in Citi’s treasury & trade solutions group (TTS). He will report to Shahmir Khaliq, global head, treasury and trade solutions, based in London. Cox is currently the global head of data, digital & strategic programs for securities services, EMEA head of…
State Street wins digital custody mandate
State Street has been appointed to provide custody services to the Digital Securities Depository Corporation (DSDC). DSDC operates a cross-border securities settlement infrastructure with third-party regulated financial institutions to create, issue and service digital depositary receipts (DDRs) in the US public market. The securities underlying the DDRs will include the non-US listed equity securities DSDC…
Conor O’Brien joins Crestbridge
Crestbridge, the C.I.-based administrator, has appointed Conor O’Brien as head of accounting and transfer agency for Ireland. He joins from SGSS.