Northern Trust has been appointed by Invesco to provide administration, custody and depositary services for its new Ireland-domiciled index tracking mutual fund range, Invesco Markets V ICAV. The new fund range is designed to make Invesco’s swap-based (synthetic) approach to index replication available to mutual fund investors in Europe via investment platforms and other institutional…
Category: Bank Providers
Euroclear to acquire Uptevia
Euroclear has entered into exclusive negotiations to acquire Uptevia, a France-based corporate trust services provider. Uptevia is currently jointly owned by BNP Paribas and CACEIS. Through Uptevia, Euroclear will add specialist issuer capabilities and reinforce its position in the French market, complementing its existing market infrastructure and post-trade services across key European markets, including Belgium,…
CACEIS opens Nordic hub
CACEIS has opened a full-service branch in Stockholm. Th new branch is headed by Henrik Reinfeldt, country managing director, and offers a full-capability office that will act as a dedicated hub for the Nordics. The office shares premises with sister companies Amundi and Crédit Agricole CIB.
Pat Hayes retires
Patrick (Pat) Hayes has retired from BNP Paribas, after a 10-year stint that included head of the UK for the securities services business and, most recently, global head of alternative investors, running the alternatives administration business. Hayes has been based in Dublin since joining State Street in 2007. All my very best wishes to Pat…
Myburgh leaves Citi
Gareth Myburgh has left Citi after more than nine years. He was most recently head of platform solutions – Citi Velocity ETF, leading the design and delivery of Citi’s turnkey ETF issuance solution. The future of that platform was placed in doubt after Citi announced earlier this year its intention to “retire” the service after…
Wally Barys takes new role at U.S. Bank
Walter (Wally) Barys has been appointed head of custody for asset managers at U.S. Bank. Barys, who joined in 2017 from Northern Trust, successfully transformed U.S. Bank’s agent bank network to move away from the BNY white label model. He will report to Alan Flanagan, global head of investment services.
BNY expands with Circle
BNY has expanded relationship with Circle Internet Group, Inc. as part of new stablecoin enablement capabilities for institutional clients. Circle’s USDC will be the first stablecoin on BNY’s digital asset custody platform, enabling BNY clients to store, transfer, mint and burn USDC. This expands BNY’s role as primary custodian of USDC reserves. BNY clients can…
State Street upgrades in KSA
State Street’s fully owned subsidiary, State Street Saudi Arabia Financial Solutions, has upgraded to a Managing Investment and Operating Funds (MIOF) licence from the Capital Market Authority in Saudi Arabia, enabling the firm to offer local fund administration services in Saudi Arabia. While State Street has previously supported clients in Saudi Arabia through its global…
Global X selects Citi in Australia
Global X has selected Citi as the new custodian and fund administrator for its Australian ETF business. Global X ETFs was founded in 2008 and has >USD165bn AuM. Global X is a member of Mirae Asset Financial Group with >USD800bn AuM.
NTRS supports inaugural TirNua fund
Northern Trust has been appointed by TirNua Capital Partners to provide fund administration, depositary and banking services for the firm’s inaugural infrastructure fund. The fund has secured EUR340m (USD390m) in commitments at first close. The Ireland-domiciled fund is structured as a closed-end Investment Limited Partnership (ILP). Headquartered in Dublin, TirNua is a private markets investment…