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.
Category: Headlines
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…
Carne appoints president
Carne Group, Europe’s largest third-party ManCo, has appointed John Parkhouse as president, strengthening its leadership as the firm accelerates execution of its long-term, client-led growth strategy. He joins Carne from PwC, where he spent over three decades advising global asset managers and investment fund groups. As president, Parkhouse will lead the global executive committee and…
Northern Trust to support Frontier ICIO
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…
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…
Muzinich launches ETF on Waystone platform
Muzinich & Co., a specialist in public and private corporate credit, has launched the Muzinich AAA CLO UCITS ETF, the firm’s first European ETF, which expands access to its established loans, CLO and short duration investment grade capabilities. The ETF has been launched on the Waystone white label platform.
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…