Robert Stenmark has joined Northern Trust to head its new Norwegian branch and lead its depositary services business in Norway. He joins from Handelsbanken.
Category: Bank Providers
BNY Mellon opens branch in Madrid
BNY Mellon has opened a new branch in Madrid, Spain. Mariano Giralt will assume the role of branch manager, with Ana Arias as deputy branch manager. Both are internal appointments.
Bill Muia joins SS&C
Bill Muia has joined SS&C as a director of business development, based in the U.S. He was previously at HSBC, and has also worked for RBC.
Nykredit transfers depositary business to BNY Mellon
Nykredit, one of Denmark’s largest financial services companies, has agreed to transfer its depositary business to BNY Mellon. Working together since 2008, BNY Mellon has provided custody, and Nykredit depositary services, to a wide range of clients in Denmark. As part of the agreement, a small team of employees will transfer to BNY Mellon. The…
LACERA expands relationship with State Street
State Street has expanded its relationship with Los Angeles County Employees Retirement Association (LACERA). State Street will now provide additional solutions for performance and analytics, as well as alternative administration for LACERA’s real estate assets. LACERA, one of the largest county retirement systems in the U.S., is an independent government entity that administers and manages…
U.S. Bank partners with Lumint for passive FX hedging
U.S. Bank has enhanced its suite of FX solutions with a new passive currency hedging service to support asset managers and asset owners. The new global currency management solution offers institutional investors an automated and scalable solution for portfolio and share class currency hedging with available look-through and index replication strategies. The tool is powered…
Vontobel signs for State Street Alpha
Vontobel Asset Management, the Swiss asset manager with CHF120bn (USD135bn) AuM, has signed a multi-year service agreement with State Street, under which Vontobel will deploy State Street Alpha, the integrated front-to-back investment servicing platform. The partnership will include front office technology, investment operation services, Alpha data services and liquidity risk solutions. Felix Lenhard, Vontobel COO…
Citi launches dynamic fund order processing service
Citi has launched a new service for advisor clients that automates the allocation of cash across a range of funds and manages all aspects of order processing between advisor clients and fund providers. With its Dynamic Allocation and Fund Order Processing service, a client can send an order through industry standard or proprietary messaging to…
SGSS to act as depositary for new RE fund in Italy
SGSS in Italy has been chosen by Invimit SGR, a company owned by the Ministry of Economy and Finance, to provide depositary bank services for its new Dante real estate fund.
Perpetual switches to State Street in Australia
Perpetual Investment Management Limited, the Australia-based asset manager, has appointed State Street to provide custody and fund administration services. State Street will provide core custody, middle office, administration, valuation, accounting and tax reporting services to the funds managed by Perpetual. In addition, Perpetual will leverage State Street’s enterprise data platform to manage data across the…