IQ-EQ, the Luxembourg-based administrator, has acquired South Watch LLC, a small provider of fund administration, outsourced CFO support and tax preparation services to hedge fund managers in the U.S. and Cayman Islands. The business was acquired from the majority shareholder, Everlane Equity Partners, and employee shareholders. The South Watch partners, Paul Timmins, Kirby Richards and…
Month: May 2025
GIC takes stake in Citco
Citco and GIC have entered a long-term relationship. As part of the agreement, GIC, the Singapore-based SWF, has become a minority shareholder in Citco. The founding Smeets family will remain the majority shareholder in Citco.
Apex to takeover Tokeny
Apex is to acquire a majority stake in Tokeny, the Luxembourg-based tokenisation solutions provider. The transaction, which will see Apex having 100pct control over the next three years, follows the initial investment and strategic partnership with Tokeny announced in 2023.
U.S. Bank selects Fenergo
U.S. Bank Global Fund Services has engaged Fenergo, the provider of client lifecycle management technology, to digitise and streamline the investor onboarding and service experience. This is the first step in a multi-year transformation for the fund servicing business.
HSBC to provide MO services to Eastspring
Eastspring Investments, the Asia-based manager owned by the UK’s Prudential, has appointed HSBC to provide middle office outsourced services and support its growth ambitions across multiple Asian markets, including Singapore and Malaysia. HSBC’s MO services will be integrated into BlackRock’s Aladdin platform, which Eastspring has been using since 2019. HSBC’s securities services relationship with Eastspring…
Apex hires fintech chief
Apex has appointed Tom Bennett as global head of fintech. In this newly created role, he will lead Apex’s global fintech strategy, enhancing its digital capabilities across private markets, capital markets, and digital assets. Bennett most recently served as group head of innovation at Aztec Group.
Imperium names new chairman
Imperium Group, the C.I.-based administrator, plans to appoint Simon Young as group chairman. He replaces Roy McGregor. Young has stepped down as managing director of the Jersey office — his successor Jennie Ekedahl was appointed earlier this year.
New CEO for NT Canada
Jeff Alexander has joined Northern Trust as president and CEO of The Northern Trust Company, Canada, and principal officer of the affiliated The Northern Trust Company, Canada Branch, based in Toronto. Alexander reports to Melanie Pickett, head of asset servicing, Americas and, as a director, to the board of directors of The Northern Trust Company,…
New chairman at CACEIS
The board of directors of CACEIS has appointed Jean-François Balaÿ, CEO of Crédit Agricole CIB, as chairman of the board of CACEIS, whose CEO is Jean-Pierre Michalowski. Balaÿ takes over from Xavier Musca.
TMF appoints NA chief
TMF Group, a Netherlands-based provider of financial and corporate services, has appointed Ellen Stiene as market head for North America and the Caribbean. Her career spans executive roles at leading financial institutions, including Citi, J.P. Morgan and, most recently, Wells Fargo.