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.
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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.
IQ-EQ appoints Rachel Aldridge as MD of Lawson Conner
IQ-EQ, the Luxembourg-based administrator, has appointed Rachel Aldridge as managing director of Lawson Conner, its specialist UK regulatory hosting and outsourced compliance business. She will report directly to John Legrand, managing director of IQ-EQ’s UK and Ireland cluster. She was previously COO of Bovill.
State Street wins EUR42bn mandate from Fideuram in Luxembourg
Fideuram – Intesa Sanpaolo Private Banking, part of the Intesa Sanpaolo Group, has appointed State Street in Luxembourg to assume the depositary bank and fund administration activities presently performed by its subsidiary, Fideuram Bank Luxembourg. The mandate covers c. EUR42bn (USD51bn) AuM. The completion of the transaction, which is conditional on regulatory approvals, is expected…
U.S. Bank hires David Kubilus as CCO for global fund services
U.S. Bank has hired David Kubilus for the newly created role of chief commercial officer for global fund services. Kubilus is based in London and will be responsible for connecting with investment managers about U.S. Bank’s recently launched Luxembourg capabilities. He will also contribute to the strategic development of global fund services in the U.S.…
Elysian Capital appoints Apex for ESG ratings
Apex Group has been appointed by Elysian Capital LLP, an independent private equity investor, to provide ESG ratings and advisory services.