BNP Paribas has been granted a licence to provide custody services for China’s Qualified Foreign Investor (QFI) scheme. BNP Paribas can now directly support foreign institutional investors across the full scope of schemes, allowing access to China’s equities and bond markets, in addition to providing FX services. BNP Paribas China Limited was one of the…
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Apex acquires Greenough Consulting Group in U.S.
Apex has acquired Greenough Consulting Group (GCG), a U.S.-based provider of finance, accounting, and human resources services to technology companies, venture capital and private equity funds. GCG’s client base is evenly split between start-ups or midmarket corporates, and venture capital and private equity funds.
EquiLend acquires majority stake in Stonewain
EquiLend, the fintech company for the securities lending, collateral and swaps industries, has acquired a majority stake in Stonewain Systems, an independent provider of software and solutions for the securities finance industry. EquiLend’s stake in Stonewain comes after a two-and-a-half year-partnership for EquiLend Spire.
HSBC hits USD10trn AuC
For H1 2021, HSBC’s assets under custody rose to more than USD10trn, following a 30pct year-on-year increase. Its AuA reached USD2.9trn. Over the same period, revenues for the securities services business rose by 3pct.
Jeslyn Tan joins State Street as AsPac product development head
State Street has appointed Jeslyn Tan as Asia Pacific head of product management. Based in Singapore, Tan will will report globally to Brenda Lyons, global head of asset servicing product, and regionally to Mostapha Tahiri, chief executive officer for Asia Pacific. Tan joins from Deutsche Bank, where she was most recently global head of product…
Hugo Smyth joins Ocorian in senior cap mkts role
Hugo Smyth has joined Ocorian, the C.I.-based administrator, as head of business development – UK & Europe – capital markets. He is based in London and reports to Simon Behan, chief commercial officer. He joins from Deutsche Bank. Ocorian’s capital markets business includes loan administration and agency, debt restructuring and trustee services.
Apex in talks to buy Sanne
Apex is in advanced discussions with the board of Sanne regarding a possible offer to be made by Apex for the entire issued, and to be issued, share capital of the company at a price of 920 pence per Sanne share, in cash. Apex says that it is well advanced in its due diligence review…
Gen II acquires Stone Pine
Gen II Fund Services, LLC, an independent private equity fund administrator, has acquired Stone Pine Accounting Services, LLC, a Denver-based private equity fund services provider. Terms of the transaction were not disclosed. The addition expands Gen II’s footprint in the Western U.S., and increases its headcount to more than 750. The acquisition brings Gen II’s…
Carne Group changes executive committee
Carne Group, the European provider of ManCo and fund governance services, has announced changes to its executive committee. Pascal Dufour, based in Luxembourg, takes on the role of Carne’s group chief product officer. Des Fullam, based in Dublin, takes on the role of Carne’s head of regulation & client solutions. Earlier this year Carne hired…
Citi gets green light for China fund services
Citibank (China) Co., Ltd. has received final approval from the China Securities Regulatory Commission to launch securities investment fund custody services onshore. Citi is the first major global custodian to be authorised to operate a domestic Chinese fund custody business. Separately, Citi has opened an office at the Busan International Finance Center (BIFC) in Korea.…