Citi has agreed to extend its partnership with Netwealth, a fund platform based in Australia, as its provider of global custody, global and domestic equities execution and fund administration. Netwealth will be the first Australian wealth platform to have access to Citi’s Execution to Custody (E2C) service, which provides global execution, settlement and custody services…
Category: Capital Markets
State Street reshuffles Alpha senior management team
State Street has reshuffled its leadership team for State Street Alpha, its open, front-to-back investment servicing platform for institutional and wealth management firms. State Street Alpha provides an outsourced platform across front office solutions, analytics, liquidity, data management, and outsourced middle and back office services. Spiros Giannaros has been named chief executive officer of Charles…
State Street hires James Day as global head of prod dev for sec finance
State Street has appointed James Day as global head of product development for securities finance. Based in London, he will be responsible for delivering new products, managing regulatory change and providing business solutions. He will report to Martin Tell, global head of securities finance. He was most recently head of securities finance in EMEA at…
BNY Mellon hires Robin Vince from Goldman Sachs as CEO of global market infrastructure
BNY Mellon has appointed Robin Vince as a vice chair and CEO of global market infrastructure. Vince will report to Todd Gibbons, CEO of BNY Mellon, and will join BNY Mellon’s ExCo. He will have oversight of BNY Mellon’s clearance and collateral management, treasury services, markets and Pershing businesses. He joins from Goldman Sachs, where…
Northern Trust & BondEvalue complete first fractionalised bond trade in Singapore
Northern Trust and BondEvalue have completed the first trade of a fractionalised blockchain-based bond. The trade of a blockchain-based bond, known as BondbloX, was executed on BondEvalue’s platform, with Northern Trust as the exclusive asset servicing provider. This comes after the two parties established a strategic partnership in 2019 to deliver integrated asset servicing and…
BNP Paribas planning to expand services in New Zealand via NZX
BNP Paribas Securities Services, which is the first and only global custodian to become a Depository Participant on the NZX clearing and settlement system in New Zealand, is planning to become a general clearing participant within the first half of 2021.
State Street’s BestX launches equities TCA module
BestX, State Street’s FX and fixed income best execution analytics platform, has expanded its execution analytics software and launched a post-trade transaction cost analysis module for equity markets. State Street, which bought TCA specialist Elkins/McSherry in 1999, intends to integrate both platforms to deliver a single TCA offering.
BNP Paribas wins EUR2.3bn sec lending mandate for Fondoposte in Italy
BNP Paribas Securities Services has been appointed to provide securities lending services to Fondoposte, the national supplementary pension fund for the employees of Poste Italiane S.p.A. BP2S will provide Fondoposte with securities lending services covering approximately EUR2.3bn of assets. BP2S has been providing depositary banking services to Fondoposte since 2016.
BNY Mellon to build out FX presence in Singapore
BNY Mellon plans to build a high-performance FX pricing and trading engine in partnership with the Monetary Authority of Singapore. The bank will establish new low-latency electronic FX infrastructure in Singapore, helping to improve execution quality and price discovery for clients initially in spot, and subsequently in deliverable and non-deliverable forwards and swaps. This follows…
State Street joins forces with Coremont to offer E2E service for hedge fund managers
State Street has entered into an alliance with Coremont, the operations specialist that was spun out from Brevan Howard, a UK hedge fund manager. The alliance will provide fully integrated outsourcing services for hedge fund managers, covering front, middle and back office operations, combining Coremont’s portfolio management analytics and support with State Street’s asset servicing…