J.P. Morgan has taken a stake in Arcesium, the U.S.-based investment management technology and professional services firm. The investment deepens Arcesium’s strategic partnership with J.P. Morgan, including its securities services business, which already uses Arcesium’s technology for some parts of its alternative fund servicing operation. Terms of the investment were not disclosed.
Category: Bank Providers
State Street partners with iCapital Network for alts distribution
State Street has entered into a new partnership with iCapital Network, the financial technology platform specialising in alternative investment. The collaboration will combine State Street’s registered transfer agency and private market fund administration capabilities with iCapital’s platform technology and distribution network to enhance the offering and servicing of U.S. registered funds. With high net worth…
CANDRIAM to move from RBC to CACEIS
CACEIS has finally confirmed that CANDRIAM, the French asset manager, will migrate asset servicing activities (custody, fund administration, transfer agency) for its Luxembourg and French funds from RBC I&TS to CACEIS. The migration will start at the end of March 2020, following approval by the competent regulatory authorities. It will take place in three waves…
U.S. Bank to administer USD1.9bn mutual fund family for Wilshire
Wilshire Associates has appointed U.S. Bank to provide custody, fund administration and transfer agency services for its family of nine mutual funds with USD1.9bn in assets. U.S.-based Wilshire will continue its relationship with U.S. Bank to service alternative investments, as well as U.S. Bancorp Asset Management for securities lending and overnight investment of cash balances.
SGSS appoints Roberto Pecora as CEO for Italy
SGSS has appointed Roberto Pecora as CEO for Italy. He replaces Frédéric Barroyer, who is moving to another part of the bank. Pecora moves from his role as head of the bank’s global markets business in Italy. He will report to David Abitbol, global head of SGSS, and Alessandro Gumier, head of global banking &…
BNY Mellon partners with Milestone to offer new NAV services
BNY Mellon has launched a new suite of oversight and contingent net asset value (NAV) calculation solutions to complement its existing fund accounting capabilities. These new services are designed to drive greater transparency, efficiency and risk management for asset managers and asset owners. These expanded capabilities leverage the bank’s recent alliance with institutional investment solutions…
Tim Smollen takes sec lending team to MUFG from DB
As first reported here last November, MUFG Investor Services, the global asset servicing arm of Mitsubishi UFJ Financial Group, has appointed Tim Smollen as global head of global securities lending solutions. He will be based in New York and will be joined by eight additional hires who will support the growth and development of MUFG’s…
BP2S reorganises as Placido gets promotion
Following the appointment of José Placido as CEO of BNP Paribas Corporate and Institutional Banking (CIB) Americas, BP2S has made the following management changes: Alessandro Gioffreda, currently regional head of continental Europe for BP2S, is appointed head of territory management, covering all regions. In his new role, he will be responsible for the BP2S regional…
HSS partners with AcadiaSoft for IMS
HSBC Securities Services will partner with AcadiaSoft to deliver a full end-to-end independent Initial Margin Service for its clients who are preparing for Phase 5 and Phase 6 regulatory initial margin. This functionality will enable HSS to calculate initial margin in compliance with the ISDA standard initial margin model (SIMM) independent of the clients’ counterparty.…
Storebrand appoints Northern Trust in Luxembourg
Northern Trust has been selected by Nordic investment manager Storebrand Asset Management AS as asset servicing provider for its AIF and UCITS funds domiciled in Luxembourg. Northern Trust will provide global custody, fund administration, transfer agency, depositary, and company secretarial services for the Storebrand funds in Luxembourg. The UCITS umbrella fund will operate a number…