CIBC Mellon has been appointed to provide asset servicing for the Bank of Canada’s recently launched commercial paper purchase program (CPPP). CIBC Mellon currently provides custody and asset servicing for the Bank of Canada’s pension plan.
Category: Bank Providers
HSS appointed as sole custodian by UK’s Admiral Group
The Admiral Group, a UK-based insurance company, has appointed HSBC Securities Services as sole global custody provider for all assets.
State Street to service ACI’s new semi-transparent ETFs
State Street has been appointed ETF servicing agent and Authorized Participant Representative (APR) for American Century Investments’ new range of semi-transparent, actively managed ETFs. American Century Investments is the first asset manager to receive regulatory approval for two investment strategies, Focused Large Cap Value and Focused Dynamic Growth, both of which will be available through…
USCF moves from BBH to BNY Mellon
United States Commodity Funds (USCF), which runs a family of commodity-based ETFs, has appointed BNY Mellon as custodian, fund accountant and transfer agent across all ETFs. The incumbent, BBH, will provide financial statements for Q1, after which BNY Mellon will assume this function.
BP2S selected by CSOP AM to service new Singapore VCC
BNP Paribas Securities Services has been selected by CSOP Asset Management to provide custody, fund administration and transfer agency for funds using Singapore’s new Variable Capital Company (VCC) structure. With USD6.3bn AuM, CSOP is the largest Chinese asset manager to use Singapore’s new corporate fund structure.
BP2S to acquire Sabadell’s Spanish depositary banking unit
BNP Paribas has agreed to buy the depositary banking business of Banco de Sabadell in Spain. BNPP will pay EUR115m (USD127m) for the unit, which has assets of EUR22bn. Last year BNPP agreed to buy MAPFRE’s Spanish depositary services unit, and in 2014 it acquired Banco Popular’s depositary business in Spain.
HSS appointed as trustee for first iron ore futures ETF in HK
HSBC has been appointed trustee and designated margin depository bank for the SSIF DCE Iron Ore Futures Exchange Traded Fund, the first iron ore futures ETF in Hong Kong. It is launched by Shanxi Securities International Asset Management Limited, a wholly owned subsidiary of Shanxi Securities International Financial Holdings Limited, one of the first securities…
Steve Mccullough joins HSS to head APAC bus dev
HSBC Securities Services has hired Steve Mccullough to head business development for asset owners & managers in Asia Pacific. Based in Hong Kong, he reports to Sébastien Danloy, global head of asset owners & managers. Mccullough was previously at Citi.
MUFG IS adds two senior managers in UK
MUFG Investor Services has hired Lizzy Buss as executive director of EMEA sales and Cliodhna Murphy as executive director, product development. Both are based in London. Buss joins from State Street, where she was head of business development for InfraHedge across EMEA and APAC. In her new role, she will direct the sales and growth…
Citi and RBC sign client transfer agreement for Australia
Citi has finalised a client transfer agreement with RBC Investor & Treasury Services in Australia. The announcement follows Citi and RBC signing a memorandum of understanding in November 2019, with the intent to facilitate an orderly transfer of the RBC client base to Citi over a 12-24 month period. The transaction will enable Citi’s securities…