HSBC has chosen the IHS Markit Wall Street Office (WSO) platform to provide private loan administration services for clients of its securities services business. IHS Markit will perform the loan administration and reconciliation process, which will integrate into HSBC’s fund accounting platform. The service will provide clients with real-time access to loan portfolio reporting. Private…
Category: Bank Providers
Northern Trust wins three European insurance mandates
Northern Trust has won three new mandates from European insurers. Hannover Re, the German reinsurer, appointed Northern Trust to provide collateral management and global custody services for its longevity risk transfer business. AND-E, a European subsidiary of the Japanese insurance group MS&AD, appointed Northern Trust to provide global custody and related asset servicing solutions for…
BNY Mellon’s Kate McCabe joins State Street as AO sector sales lead
State Street has hired Kate McCabe as sector sales lead for its asset owners team, based in the U.S. McCabe joins from BNY Mellon, where she spent a total of 25 years in two stints, most recently as U.S. head of asset owner business development. Last year State Street hired Bob Dollard from BNY Mellon…
Northern Trust wins Azimut mandate for DIFC funds
Northern Trust has been appointed by Azimut (DIFC) Limited to provide asset servicing and portfolio reporting for its Dubai International Financial Centre (DIFC) funds in the Middle East. Northern Trust will deliver portfolio reporting and local servicing in the local time zone directly from the United Arab Emirates. Azimut (DIFC) Limited is part of the…
FNZ and State Street to collaborate on wealth manager servicing
FNZ and State Street are collaborating on a new wealth manager servicing venture. FNZ will acquire a majority stake in State Street’s wealth manager services (WMS) business, with State Street retaining a minority interest. Terms of the transaction, which is expected to close in Q4 2020, are not being disclosed. Upon full implementation, the new…
BP2S automates key asset servicing documentation with NLU and IDP
BNP Paribas Securities Services has automated the processing of key asset servicing documentation, part of the group’s digital transformation programme. The initiative, which took 12 months to implement, aims to enhance back office operational efficiency, increase straight-through processing rates and reduce services turn-around times for clients. Using Natural Language Understanding (NLU) and machine learning, including…
SGSS appoints Bryan Fage as head of sales and RM in Lux
SGSS has appointed Bryan Fage as head of sales and client relationship management in Luxembourg. Fage, who joined SGSS Luxembourg’s sales team in 2017, will report locally to Mathieu Maurier, country head for SGSS in Luxembourg, and functionally to Gildas le Treut, global head of coverage.
Fritz Bruinings joins CACEIS in the Netherlands as bus dev mgr
CACEIS has appointed Frits Bruinings as business development manager in the Netherlands. Bruinings previously worked for InAdmin Riskco as a sales manager.
BP2S appoints Denis Bon as head of the Americas
BNP Paribas Securities Services has appointed Dennis Bon as head of the Americas. He will be based in New York and will report to Alessandro Gioffreda, head of territory management. Bon was previously head of depositary and fiduciary services at BP2S, based in Paris. He joined the bank in 2018 from J.P. Morgan’s corporate and…
CACEIS to service new PE fund for C4 Ventures
CACEIS has been selected by C4 Ventures, a European venture capital firm, to provide custody, middle-office and administration services for its new fund, C4 Ventures II. Building on the success of its first fund, C4 Ventures II will continue to support fast-growing companies in three major themes: smart hardware, future of commerce, and digital media.…