In what is believed to be an industry first, HSBC has moved Corda Enterprise, the blockchain platform developed by R3, on to Google Cloud. The move aims to cut client onboarding times from months to weeks, improving the client experience and significantly reducing costs. Moving the Corda technology to Google Cloud gives the bank the…
Month: February 2021
BlackRock to transfer ETF assets from State Street
State Street has confirmed that, following a review, it expects BlackRock to move a “significant portion of its ETF assets currently with State Street to one or more other providers, pending necessary approvals”. The transition is expected to begin in 2022 but will principally occur in 2023. In 2017 BlackRock moved USD1trn of common trust…
ARAG chooses AssetMetrix for alts investment analytics
AssetMetrix, the German fintech in which BNP Paribas has a stake, has been appointed by ARAG, the German insurance group, for the expansion of digital back and middle office processes for its alternative investments portfolio. ARAG will use AssetMetrix’s portal-based platform to analyse its investment decisions based on tools for performance, risk management, benchmarking and…
Peregrine launches new ICAV on Prescient platform
Peregrine Capital (Pty) Ltd, a South Africa based hedge fund manager, has launched the Peregrine Capital Global Equity Fund. The fund, which is hosted on the Prescient Global Funds ICAV platform and is authorised by the Central Bank of Ireland, will initially be distributed to investors in South Africa, and subsequently to investors in key…
KBA agrees to buy EFG Fund Management in Luxembourg
KB Associates, the Ireland-based professional services firm has reached an agreement to acquire EFG Fund Management S.A., a Luxembourg-based management company and subsidiary of EFG International AG, the Swiss private banking group. The transaction is subject to regulatory clearance. EFG is a longstanding client of the firm and of KBA’s management company in Ireland.
Broad Reach deploys Arcesium’s treasury management solution
Broad Reach Investment Management, a UK-based alternative investment firm, has chosen Arcesium’s modular Treasury Suite to scale its treasury operations and management functions. Arcesium’s treasury technology will add transparency and control into Broad Reach’s collateral management workflows, providing an independent, holistic view into their data. Broad Reach can further optimise their multi-asset collateral allocation through…
Nordea to recommend Citi as it exits Nordic sub-custody business
Citi and Nordea have finalised an agreement where Nordea will recommend its existing clients appoint Citi as their new provider of sub-custody services in the region. This follows a decision by Nordea to exit the Nordic sub-custody business. As a result of this agreement, Citi expects to significantly grow its market share in the Nordics.…
FundRock appointed as ManCo by Chimera Capital for new ICAV
FundRock, which was recently acquired by the Apex Group, has been appointed as ManCo for the recently launched Chimera UCITS ICAV, with Abu Dhabi-based Chimera Capital Limited as the appointed investment manager. FundRock will provide the risk management and regulatory framework for the ICAV and undertake the sub-funds’ delegated oversight.
Fenergo appoints Gary Brookes as head of sales for Asia
Fenergo, the provider of digital transformation, onboarding and client lifecycle management solutions, has appointed Gary Brookes as head of sales for Asia, based in Singapore. Brookes joined from Datasite.
Wouter Wytenburg joins Mesh ID as commercial director
Wouter Wytenburg has joined Mesh ID (formerly Finos), an Amsterdam-based technology company specialising in digital onboarding for the global fund management industry, as commercial director. Wyenburg has 10 years’ experience in the SaaS sector.