NCB Capital, the asset management and investment banking arm of Saudi Arabia’s National Commercial Bank, has struck an alliance with BNY Mellon to deliver global custody and associated asset servicing activities to institutional and large asset owners based in the country. The alliance will provide clients of NCB Capital, Saudi’s largest custodian and asset manager,…
Category: Bank Providers
Citi wins USD600m servicing mandate for Russia’s first ETF issuer
Citi has been awarded the mandate to provide ETF services for the full fund range of FinEx ETF, Russia’s first ETF issuer. Under the agreement, Citi will service FinEx’s 13 ETFs, coveringUSD600m in assets. Citi will provide a range of services across custody, fund administration and basket services, as well as distribution support through Citi…
BNY Mellon hires Laura Steinbach as head of Americas IM sales
BNY Mellon has hired Laura Steinbach from State Street as head of investment managers sales in the Americas for its asset servicing business, based in New York. She reports to Jane Mancini, global co-head of asset servicing sales. At State Street, she was responsible for business development with global investment managers.
PAAMC mandates HSBC in Lux to service first UCITS umbrella fund
HSBC Luxembourg has been appointed by Ping An of China Asset Management (Hong Kong) Co., Ltd. to act as central administrator, depositary/trustee, transfer agent and custodian for its first UCITS umbrella fund, comprised initially of four sub-funds. In 2018 HSBC was appointed to service PAAMC’s first reserved alternative investment fund (RAIF) umbrella. The partnership with…
Citi to service Dimensional’s new ETF range
Citi has made a major breakthrough in the U.S. ETF sector with a mandate from Dimensional Fund Advisors to act as fund administrator, custodian, and transfer agent for three new actively managed ETFs. Dimensional, a U.S.-based manager with >USD500bn AuM, announced its plans to launch these funds in June 2020. Citi has a longstanding relationship…
BNP Paribas and Allfunds complete agreement
A year after announcing the deal, BNP Paribas and Allfunds have finally completed their strategic agreement. As part of this partnership, BNP Paribas Securities Services will give its fund-buyer clients access to more than 2,000 fund houses and 100,000 funds and a range of fund analytics services from its new Fund@ccess platform, which is powered…
Northern Trust launches portal for Canadian benefit plan participants
Northern Trust Canada has launched an online portal, Benefit Payment Participant Passport, enabling advanced automation for participants of Canadian benefit plans. The portal allows pension and benefit plan participants to access their program information in real time, 24 hours a day, seven days a week, in French or English. The self-service option supplements mailings, call…
CACEIS to service EUR1bn PE fund for ArchiMed
CACEIS has been selected to service the new MED Platform I fund run by ArchiMed, a private equity firm specialising in the healthcare sector. The mandate covers depositary bank, custody, middle-office, fund accounting and financing services for the fund, which reached a EUR1bn final close.
Citi extends partnership with Netwealth to include E2C
Citi has agreed to extend its partnership with Netwealth, a fund platform based in Australia, as its provider of global custody, global and domestic equities execution and fund administration. Netwealth will be the first Australian wealth platform to have access to Citi’s Execution to Custody (E2C) service, which provides global execution, settlement and custody services…
J.P. Morgan chooses H4 to improve document management
J.P. Morgan has chosen H4 to help improve the client contract onboarding experience, reuse data contained in documents, and build a digital library. H4 and J.P. Morgan have piloted the new documentation platform in the global custody business, with a view to rolling it out across the securities services business. In May 2020, J.P. Morgan…