First Abu Dhabi Bank (FAB) has appointed Rainer Kasch as managing director and head of Saudi Arabia securities services. Based in Riyadh, Kasch will be responsible for managing FAB Capital’s Saudi direct custody business and developing the securities services franchise with Saudi-based institutions. Kasch joins from Standard Chartered, based in Singapore, where he was managing…
Category: Headlines
IQ-EQ bolsters APAC client services team
IQ-EQ, the Luxembourg-based investor services provider, has added to its client services team in Asia. Andréia Prates and Rachael Leung have joined the business as client service directors. Prates joins IQ-EQ’s Singapore office as director, client services. She previously worked for Deutsche Bank, Standard Chartered Bank and Brown Brothers Harriman covering Asia, the Middle East…
Invictus converts crypto funds
Invictus Capital, a Cayman-domiciled manager, has migrated its tokenised crypto funds into a regulated mutual fund structure. All open-ended Invictus funds will now have the same oversight as other regulated mutual funds within the Cayman Islands. The funds will benefit from annual independent external audits and daily verification of fund assets by a licensed third-party…
Circle adds BNY Mellon as reserves custodian
Circle Internet Financial, LLC has appointed BNY Mellon as a primary custodian for USD Coin (USDC) reserves. Circle is an internet finance firm that provides internet-based payments and financial infrastructure and is the sole issuer of USDC. USDC is one of the fastest growing dollar digital currencies in the world, with over USD52bn in circulation…
MUFG opens hub in Cyprus
MUFG Investor Services, the asset servicing arm of Mitsubishi UFJ Financial Group, has established an operational centre in Limassol, Cyprus. This is MUFG’s second European hub, working alongside its Dublin office. MUFG has c. USD800bn AuC/A.
CIBC Mellon wins Forstrong mandate
Forstrong Global, the Canada-based asset manager, has appointed CIBC Mellon to provide asset servicing and digital solutions, including custody, accounting, recordkeeping, securities lending, financial statement preparation, investment data access and tax reporting. Established in 2001, Forstrong runs actively managed ETFs to capitalise on macroeconomic, geopolitical and other world trends for some of Canada’s largest financial…
Northern Trust partners with Finscape
Northern Trust has entered into an agreement with Finscape to provide clients with a comprehensive view of their fund distribution activity. By streamlining market intelligence gathering, the service – also called Finscape – aims to help address industry-wide challenges around data transparency. Under the agreement, Northern Trust will make Finscape available to its asset manager…
Notion Capital expands Mainspring mandate
Mainspring, the UK-based administrator, has been awarded an additional mandate by Notion Capital, the VC firm focused on European SaaS and cloud investments. Mainspring will provide custody services for Notion’s Fund III, including sub-custody services for the fund’s depositary. Mainspring has been working with Notion for five years.
Broadridge hires new president of asset management solutions
Broadridge Financial Solutions, the U.S.-based fintech, has appointed Mike Sleightholme as president of its asset management solutions business. He will be responsible for driving Broadridge’s global asset management business growth, the strategic execution of client and market-focused solutions, and service delivery. Broadridge Asset Management Solutions supports hedge funds, asset managers, family offices, private debt/CLO managers,…
Waystone to acquire Centaur
Centaur, the Ireland-headquartered provider of fund administration services to the alternatives sector, has reached agreement to become part of the Waystone Group, subject to regulatory approval. With offices in U.S., Canada, Bermuda, the Cayman Islands, Luxembourg and the UK, Centaur employs over 220 staff and provides fund administration and fiduciary services to over 120 client…