Direxion, a provider of tradeable and thematic ETFs, has selected SS&C ALPS Distributors to provide medallion distribution services for its ETF and mutual fund range. Direxion manages more than USD40bn across a diverse suite of leveraged and inverse ETFs and mutual funds. SS&C ALPS Distributors will act as the underwriter and distributor for issuance, redemption…
Category: Independents
Apex supports Phoenix ADGM launch
Phoenix Venture Partners has received approval of an Abu Dhabi Global Market (ADGM) fund manager licence. Phoenix Ventures is a specialist investment and asset management firm with a focus on early stage, technology-based investments across multiple industry segments. Apex will provide corporate and fund services to the company and its first fund, which is set…
Aztec hires U.S. private credit head
Aztec, the C.I.-based administrator, has appointed Todd Werner as U.S. head of private credit. He joins from Ultimus Fund Solutions where he was senior vice president of retail alternative funds.
Alter Domus supports Partners Group
Alter Domus, the Luxembourg-based provider of fund administration, asset and corporate services for the alternative investment industry, has signed an outsourcing partnership with Partners Group, one of the largest firms in the global private markets industry. The partnership sees Alter Domus support a broad range of operational functions for Partners Group’s closed-end product offerings, spanning…
Pirum expands into pre-trade space
Pirum, the fintech focused on securities finance and collateral management, has launched Pirum TradeConnect, a global, standardised and open pre-trade connectivity solution for equities and fixed income, fully integrated with Pirum’s established post-trade services. Pirum TradeConnect provides the ability to connect with any counterpart bilaterally, as well as directly with multiple venues, in any format,…
IQ-EQ hires Dutch commercial director
IQ-EQ has appointed Peter van Opstal as commercial director for the Netherlands. Prior to joining IQ-EQ, he was commercial director and management team member at Vistra in Amsterdam.
SimCorp hires from CRD
SimCorp has hired Jason Pietrafitta as head of customer success for Asia Pacific, based in Singapore. He was previously at CRD, a State Street company.
JTC to acquire Citi Trust
JTC, the C.I.-based services provider, plans to acquire Citi Trust, the global fiduciary and trust administration services business, from Citigroup. Citi Trust provides trust solutions from New York, Delaware, South Dakota, Jersey, Singapore, Switzerland and the Bahamas. Total AuA serviced by Citi Trust is >USD70bn across over 2,000 UHNW client relationships, with an average tenure…
ZEDRA appoints deputy CEO
ZEDRA, the Switzerland-based services provider, has appointed Dean Blackburn as deputy CEO. He joins from JTC, where he began in 2019 as group director to the CEO’s office. He later served as JTC’s chief commercial officer before taking up the group head of institutional client services role in 2022.
SS&C to acquire Battea
SS&C has signed a definitive agreement to acquire Battea-Class Action Services, LLC, a provider of securities class action claims management and settlement recovery services. The purchase price is c. USD670m, subject to certain adjustments. Battea helps more than 900 banks, asset managers hedge funds and proprietary trading firms to receive the maximum distribution of entitled…