Northern Trust has been appointed by Arab Fund for Economic and Social Development (AFESD) to provide a range of asset servicing solutions covering global custody, financial reporting, securities finance, private equity administration, performance measurement and compliance monitoring. AFESD, based in Kuwait, is a regional financial institution focused on funding economic and social development by financing…
Category: Headlines
BNY Mellon expands in UAE
BNY Mellon has formed a strategic alliance with Emirates NBD, the UAE-based banking group, “aimed at accelerating the growth of UAE capital markets”. In 2020 BNY Mellon formed an alliance with SNB Capital (formerly NCB Capital) in Saudi Arabia.
Ocorian granted three new licences in Ireland
Ocorian, the C.I.-based administrator, has been granted three new licences by the Central Bank of Ireland. The firm, which has offered corporate and capital market services in Ireland for 15 years, now has licences covering AIFM, fund administration and real asset depositary services.
Sudrania rebrands
Sudrania Fund Services, the U.S.-based administrator, has rebranded as Formidium.
Intertrust hires head of AIFM in Lux
Johannes Höring has joined Intertrust, the Netherlands-based administrator, as head of AIFM in Luxembourg He has worked in Luxembourg, Germany, UK and Ireland in various senior positions, including conducting officer, managing director and manager of fund management companies and authorised AIFMs.
BNY Mellon appoints new Germany head
BNY Mellon has appointed Katarina Melvan as the German branch manager for The Bank of New York Mellon SA/NV (the European Bank). Melvan, who previously served as CEO for the management board of the KVG in Germany, is also responsible for the asset servicing business in Germany. Melvan joined BNY Mellon in 2007 as managing…
Apex to acquire Darwin
Apex plans to acquire Darwin Depositary Services, a Netherlands-based provider of depositary services for alternative investment funds. Darwin will add EUR4.5bn (USD4.7bn) of assets, expanding the geographic scope of Apex’s independent depositary services, currently delivered through subsidiary European Depositary Bank in Luxembourg, Ireland, UK and Malta. Darwin’s management team will join Apex following completion of…
Foord appoints Equity Trustees as RE for new fund
Equity Trustees, the Australia-based provider, has been appointed as local Responsible Entity (trustee) by Foord Asset Management (Singapore) Pte. Limited. The new Foord Global Equity Australian Feeder Fund invests exclusively in the Foord SICAV, Foord Global Equity Fund (Luxembourg).
SDX partners with Fireblocks
SDX Web3 Services, SIX Digital Exchange’s Web3 unit, has formed a partnership with Fireblocks, the digital asset and crypto technology platform, to provide financial institutions and institutional investors with a set of infrastructure services for the distributed economy. Initially, this partnership will focus on delivering an institutional custody solution for digital assets, providing a transition…
EFA opens in Stockholm
EFA, the Luxembourg-based administrator with >EUR160bn (USD167bn) AuA, has opened a Nordic office, based in Stockholm. Having serviced Nordic asset managers for over 15 years, EFA sees this as the next step on its path to become the leading investor services platform in the Nordics. EFA has 450 employees in Luxembourg and Paris. Pending regulatory…