AGF, the Canadian asset manager with c. CAD36bn AuM, has expanded its relationship with CIBC Mellon, which has been appointed to provide fund accounting, custody, fund administration and recordkeeping for Highstreet Asset Management, AGF’s private client subsidiary. The mandate also includes performance, valuation and reconciliation accounting services for AGF’s institutional business, and the transition of…
Category: Bank Providers
Citi forges alliance with BlackRock’s Aladdin
Citi has become the latest custodian to forge an alliance with BlackRock, through its Aladdin Provider network, to enhance the delivery of securities services to Citi’s clients who utilize the Aladdin end-to-end investment management platform. Connecting to Aladdin Provider, Citi will provide outsourced middle office services directly through a client’s Aladdin platform for integration with…
SGSS to administer two new Lux funds for AtonRâ
SGSS in Luxembourg has been appointed as the sole administrator to the recently launched AtonRâ SICAV and AtonRâ II SICAV-RAIF. SGSS will deliver asset services including depositary bank and fund administration.
State Street realigns Management Committee
State Street has made some significant changes to its Management Committee, the company’s most senior strategy and policy-setting team. Francisco Aristeguieta will establish a new global unit, Institutional Services, which will include the global clients division, segments, sales and client coverage, client program office, and marketing. Reporting to Aristeguieta will be Donna Milrod, head of…
HSS to deploy Wall Street Office for private loans admin
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…
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…