Month: September 2023

Claire Johnson is reportedly joining RBC Investor Services as CEO. She will replace Francis Jackson, who is stepping down from the role following the sale of its remaining international businesses to CACEIS. Johnson is currently president of TSX Trust, part of the TMX Group, and previously spent more than 20 years at CIBC Mellon.

Northern Trust is working with Frost Consulting, an independent consultant, to examine the challenges for MiFID II in scope managers who may face potential difficulties paying U.S.-based bank research providers which have not registered as RIAs, or are unable or unwilling to accept hard dollar payments at their European office(s) for global research services. The…

JTC, the C.I.-based professional services firm, has added two managers to its funds team in Jersey. Will Turner and Ben Durbano specialise in real estate and private equity respectively and join Ashley Vardon, senior director – fund services, who was appointed earlier this year. Turner was previously at Crestbridge, whilst Durbano joins from Sanne.

Nearly 50 years after the “invention” of global custody, it’s back in fashion. Not long after he became CEO of State Street, Marsh Carter held his first analysts’ call. “Custody,” he opined, somewhat innocently, “is a mature business.” Wall Street did not like to hear this, and hammered the State Street stock. Lesson learnt. Thirty…

Further exits from HSBC’s securities services business, following the senior management changes implemented earlier this year. After Ronnie Griffin – widely regarded as one of the best trust and depositary managers in Europe – left earlier this year, it is understood that CP Yap, who was appointed head of fund services at the end of…

BNP Paribas has been appointed by UniSuper, one of Australia’s largest superannuation funds, to provide triparty collateral management services for its global trading activity. This expands the existing relationship between UniSuper and BNP Paribas, which includes custody services in Australia.

IDR, the onboarding specialist for private markets, has appointed Robin Silverthorne as tax services director. He joins from NatWest. IDR provides a tax solution with a universally compliant single access token. Investors authenticate once through one platform.

U.S. Bank has appointed Kai Sakstrup as chief product officer for its Wealth, Corporate, Commercial and Institutional Banking (WCIB) division. Sakstrup previously served as chief strategy officer for U.S. Bank for more than six years. He joined U.S. Bank in 2015 as senior vice president of corporate strategy. He replaces Christine Waldron, who recently joined…