Credit Value Partners LLC, a U.S.-based private capital firm, has launched one of the first funds to be set up using the new Irish Investment Limited Partnership regime. Carne Group has been appointed as ManCo, with U.S. Bank appointed as administrator and depositary.
Category: U.S. Bank
U.S. Bank launches services for SPACs
U.S. Bank has launched a range of services for sponsors of special purpose acquisition companies (SPACs), including: Establishing a special-purpose segregated trust account to hold SPAC proceeds; Holding, investing and disbursing of funds in accordance with a trust agreement; Providing statements and secure online reporting of account holdings and activity; Maintaining investment books and records;…
State Street & U.S. Bank back Securrency
Securrency, a U.S.-based fintech, has raised USD30m in its latest funding round, which will be used to fund the company’s expansion plans. The Series B funding round included WisdomTree Investment, an existing investor, along with, inter alia, State Street and U.S. Bank. Securrency develops blockchain-based financial and regulatory technology.
U.S. Bank invests in FX specialist Lumint
U.S. Bank has made an equity investment in Lumint, a Boston-based company that provides currency management services to institutional investors. Earlier this year, U.S. Bank launched a new passive currency hedging service powered by Lumint’s technology. In 2018 Lumint formed a strategic partnership with Northern Trust.
John Stern to head U.S. Bank’s global corporate trust business
U.S. Bank has appointed John Stern as president of its global corporate trust and custody business. Stern currently leads the team that executes all of U.S. Bank’s treasury functions. Reporting to Gunjan Kedia, head of wealth management & investment services, he succeeds Joseph (Joe) Giordano, who is retiring.
U.S. Bank launches integrated ILP solution
U.S. Bank has launched an end-to-end solution for Irish Limited Partnership (ILP) funds, covering loan administration, fund and investor services, depositary, custody and account banking. U.S. Bank has established a comprehensive ILP solution across its global fund services, depositary services and global corporate trust business lines. U.S. Bank is understood to have secured its first…
U.S. Bank hires David Kubilus as CCO for global fund services
U.S. Bank has hired David Kubilus for the newly created role of chief commercial officer for global fund services. Kubilus is based in London and will be responsible for connecting with investment managers about U.S. Bank’s recently launched Luxembourg capabilities. He will also contribute to the strategic development of global fund services in the U.S.…
U.S. Bank partners with Lumint for passive FX hedging
U.S. Bank has enhanced its suite of FX solutions with a new passive currency hedging service to support asset managers and asset owners. The new global currency management solution offers institutional investors an automated and scalable solution for portfolio and share class currency hedging with available look-through and index replication strategies. The tool is powered…
U.S. Bank acquires debt servicing & securities custody services client portfolio of MUFG Union Bank
U.S. Bank has entered into a definitive agreement to purchase the debt servicing and securities custody services client portfolio of MUFG Union Bank, N.A. Under the terms of the agreement, U.S. Bank will acquire approximately 600 client relationships and USD320bn AuC/A. The deal is expected to close in the first quarter of 2021, subject to…
U.S. Bank to adopt SEI Wealth Platform
U.S. Bank, the fifth largest bank in the U.S. and one of the world’s top 10 custodians, has adopted the SEI Wealth Platform (SWP) across its wealth management and investment services group. SWP is a fully integrated, single-infrastructure technology solution that supports a digital experience for wealth managers and their clients. U.S. Bank will migrate…