Citi has appointed Matthew Bax as global head of direct custody and clearing (DCC). He will continue to be based in London, reporting to Okan Pekin, global head of securities services. Bax was previously head of sales for EMEA custody & fund services.
Category: Bank Providers
State Street joins forces with Coremont to offer E2E service for hedge fund managers
State Street has entered into an alliance with Coremont, the operations specialist that was spun out from Brevan Howard, a UK hedge fund manager. The alliance will provide fully integrated outsourcing services for hedge fund managers, covering front, middle and back office operations, combining Coremont’s portfolio management analytics and support with State Street’s asset servicing…
BP2S begins securities operations in Mexico
BNP Paribas Securities Services has begun operations in Mexico. Through an existing BNP Paribas subsidiary – BNP Paribas Asset Management México, S.A. de C.V. Sociedad Operadora de Fondos de Inversión – BP2S began its Mexico operations in March, providing daily accounting and valuation services as well as tax pricing and regulatory reporting. The Mexico office…
Northern Trust deploys machine learning for FX management
Northern Trust has enhanced its currency management solutions with machine learning models designed to enable greater oversight of thousands of daily data points and help reduce risk throughout the currency management lifecycle. The solution has been developed in conjunction with Northern Trust’s strategic partner, Lumint Corporation. The advanced technology used by the Robotic Oversight System…
GaoTeng appoints Lemanik, BBH for first UCITS fund in Ireland
GaoTeng Global Asset Management Limited, a Hong Kong-based manager, has launched its first UCITS fund, domiciled in Ireland. GaoTeng has appointed Lemanik as the UCITS ManCo, with Brown Brothers Harriman as fund administrator.
Citi to service new family of ETFs for Tuttle Tactical Management
Citi has been appointed by Tuttle Tactical Management to provide full ETF services for its new Trend Aggregation family of four ETFs. Citi’s services include basket creation, fund accounting and administration, custody, fund compliance, and transfer agency services. This new mandate expands Citi’s existing relationship with Tuttle Tactical Management where it has provided fund services…
Citi refines senior management structure for E&SS
Less than a year after the creation of its equities and securities services business, Citi has decided to refine the senior management structure. There will now be two leaders, a global head of equities and a global head of securities services. The latter will be run by Okan Pekin, covering custody and fund services, direct…
Modular AM appoints Northern Trust for new Asia funds
Northern Trust has been appointed by Modular Asset Management (Singapore) Pte. Ltd to provide custody, fund administration, middle-office outsourcing, collateral management and risk compliance monitoring services. Modular, which was spun out of Millennium Capital Management at the beginning of 2020, is a specialist Asian macro alternative investment management company licensed by the Monetary Authority of…
CACEIS completes first wave of fund migrations for CANDRIAM
CACEIS has completed the first of three fund migration waves for CANDRIAM, the French asset manager. This operation took place while all teams were working remotely. The migration involved 26 Luxembourg sub-funds accounting for some EUR10bn in assets. The operation involved a range of services, including depositary, custody, fund administration, transfer agency, fund distribution, securities…
State Street to service first ETF for Water Island Capital
State Street has been appointed as the ETF servicing agent for Water Island Capital’s first ETF, the AltShares Merger Arbitrage ETF, tracking the Water Island Merger Arbitrage USD Hedged Index. State Street will provide services including basket creation, settlement, custody, fund accounting, electronic order-taking, financial reporting, and transfer agency. State Street has worked with WIC…