Frontier Advisors, an Australia-based advisor covering AUD900bn (USD631bn) of assets across the superannuation, charity, public sector, insurance and higher education sector, is preparing to launch its ICIO (independent chief investment officer) service to the Australian market. Frontier has appointed Northern Trust to provide asset servicing for ICIO clients. Northern Trust will provide global custody and…
Category: Bank Providers
IQ-EQ adds to senior management team
IQ-EQ has appointed Michael Slater as managing director, Middle East, and Frédéric Ullens as managing director, Luxembourg. Based in Dubai, Slater joins after leaving Northern Trust, where he was most recently in charge of strategic relationships with EMEA financial institutions. He earned an excellent reputation for his work in the Middle East for the bank.…
BNPP wins EUR8bn Italian mandate
BNP Paribas has been awarded a mandate by BCC Risparmio & Previdenza S.G.R.p.A., the asset management company of the Iccrea Cooperative Banking Group, to provide services covering EUR8bn (USD9.3bn) of assets, including the Aureo open-ended pension fund and Italian-domiciled UCITS funds. Under this mandate, BNP Paribas will provide BCC Risparmio & Previdenza with services including…
BBH launches ML-driven NAV solution
BBH has launched NAVqc, a solution to help asset managers, management companies, and service providers to more effectively fulfill their NAV oversight obligations across third-party administrators, while reducing cost and risk. Using machine learning, NAVqc analyses individual fund behaviour based on the fund’s historical data in real market conditions. It predicts NAV movements, flags suspect…
Euronext and BNY collaborate
Euronext, the European capital markets infrastructure, and BNY are collaborating to enhance the collateral management capabilities of Euronext Clearing across asset classes, notably for cleared repo. By leveraging BNY’s collateral infrastructure and USD7.8trn liquidity pool, this collaboration will enhance the collateral management capabilities of Euronext Clearing, enabling members to manage their cleared activity more efficiently, including…
NTRS receives banking licence in Ireland
Northern Trust has received a licence from the Central Bank of Ireland for the establishment of The Northern Trust Company, Ireland Branch. This new banking branch will provide a range of custodial, banking and capital markets services, including domestically regulated banking services for Ireland-domiciled clients. Its activities will complement those of Northern Trust Global Services…
NTRS to expand ETF product coverage
Northern Trust has applied for exemptive relief to offer ETF share classes alongside existing mutual fund share classes for certain adviser series within its two sponsored series trusts: Advisers Investment Trust and Datum One Series Trust. Subject to regulatory approval, the ability to offer ETF share classes alongside mutual fund share classes in a single…
Principal expands with State Street
State Street has been selected by Principal Financial Group, a financial services company specialising in retirement solutions, asset management and insurance, to provide custody, fund accounting and administration services for Principal Funds. The mandate builds on a relationship between State Street and Principal that spans more than a decade, during which State Street has supported…
AB expands with BBH
BBH is supporting the expansion of AllianceBernstein’s global ETF platform with the launch of its active UCITS ETF business in Europe. The new ETFs are domiciled in Luxembourg and form part of the existing umbrella structure that BBH already services for AB’s Luxembourg fund range.
BNPP makes succession changes
Following the recently announced moves of Robert van Kerkhoff and Alison Gurd, BNP Paribas has announced their replacements. Laurent Durdilly takes on three leadership roles, including head of Luxembourg, Ireland and the Channel Islands for securities services, head of Luxembourg for corporate & institutional banking, and CEO of BNP Paribas SA Luxembourg Branch, based in…