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…
Category: State Street
State Street signs MoU in Oman
State Street has signed a memorandum of understanding with Jadwa Investment, a Middle Eastern investment management and advisory firm, to collaborate in the Sultanate of Oman. The two firms will jointly identify and develop opportunities to expand their offerings to institutional clients in Oman, with a focus on asset servicing and global custody. State Street…
Northern Trust promotions within asset servicing
Following the recent appointment of Clive Bellows and Guy Gibson as co-presidents of asset servicing, Northern Trust has made changes within its asset servicing business. Nick Gilbert has been appointed head of asset servicing, EMEA, a newly expanded role with responsibility for both asset owners and asset managers, aligning the EMEA region’s structure with Northern…
Carne hires from State Street
Carne Group, Europe’s largest third-party ManCo and a provider of fund regulation and governance solutions, has appointed Daniel Osborne as head of ETF solutions, based in London. He reports to Des Fullam, chief regulatory & client solutions officer at Carne. He was most recently COO and MD of the ETF business at State Street, where…
Maiuri joins Ultimus board
Ultimus has appointed Lou Maiuri as an independent member of its board of directors. Maiuri is currently chairman and group CEO of AssetMark, and was previously, president, COO and head of investment services at State Street.
State Street to launch tokenised fund service
State Street intends to deliver a tokenised fund servicing capability from Luxembourg by the end of 2026. State Street Investment Management is expected to be an early adopter of the service. The capability will be delivered through State Street’s digital asset platform.
Thornburg expands with State Street
State Street has been appointed by Thornburg Investment Management to provide end to end servicing support for Thornburg’s new ETF share classes. Thornburg is a privately owned investment firm with c. USD57bn AuM. Under the expanded mandate, State Street will deliver ETF servicing for Thornburg’s new share classes, including custody, accounting, ETF basket creation, create…
Dimensional appoints State Street
State Street has been appointed as service provider for Dimensional Fund Advisors’ newly approved ETF share class structure. This is the first in the U.S. under SEC’s final exemptive relief, allowing Dimensional to introduce ETF share classes within its actively-managed mutual fund lineup. State Street will provide end-to-end service support, including custody, fund accounting, ETF…
Citi wins USD4trn iShares MO mandate
BlackRock has appointed Citi to provide middle office functions for USD4trn in U.S.-domiciled iShares ETFs on the Aladdin platform. The integrated operating model streamlines the lifecycle of an ETF order, offering enhanced transparency into basket composition, order status, and settlement. In 2021 Citi won a USD920bn ETF servicing mandate from BlackRock as the manager rebalanced…
Aztec hires CTO
Aztec Group, the C.I.-based provider of private markets services, has appointed Jason Adams as chief technology officer. He was previously CTO at Charles River Development, a State Street company.