Aztec Group, the C.I.-based administrator, has supported the European venture capital specialist firm, Lakestar, with the closing of Lakestar III and Lakestar Growth I funds. Lakestar III closed with commitments of EUR252m, whilst Lakestar Growth I raised a total of EUR426m. Aztec’s private equity team in Guernsey will provide ongoing administration and accounting services.
Richard
BNY Mellon to build out FX presence in Singapore
BNY Mellon plans to build a high-performance FX pricing and trading engine in partnership with the Monetary Authority of Singapore. The bank will establish new low-latency electronic FX infrastructure in Singapore, helping to improve execution quality and price discovery for clients initially in spot, and subsequently in deliverable and non-deliverable forwards and swaps. This follows…
REYL launches fund representation solutions in Switzerland
REYL & Cie, the Swiss bank, has expanded its asset services business line to offer Fund Representation Solutions. This complements the services already on offer for international fund managers by representing foreign collective investments for distribution in Switzerland. The new fund representation solutions team, with Philippe Steffen, head of operations, and Colin Vidal, head of…
UVic appoints Northern Trust in Canada for CAD2bn custody mandate
The University of Victoria (UVic) has appointed Northern Trust Canada to provide trustee, global custody, pension benefit payments and associated services for approximately CAD2.0bn in pension and foundation assets.
BNY Mellon appoints Daron Pearce to lead asset servicing strategic growth
BNY Mellon has appointed Daron Pearce as head of asset servicing strategic growth. In this newly created global role, he will focus on identifying and accelerating both inorganic and new market entry opportunities. He moved to the new role on 1 June, reporting to James Slater, global head of business solutions. Pearce was previously head…
BBH appointed to service new Allianz Buffered Outcome ETFs
Brown Brothers Harriman has been selected by Allianz Investment Management, a wholly owned subsidiary of Allianz Life Insurance Company of North America, to provide custody, accounting, administration, TA and order taking services for its new Buffered Outcome ETFs. The first two U.S. ETFs were listed on the NYSE on June 1, with plans for additional…
Lunatic Fringe – why the frenzy over BlackRock’s RFP is misplaced
First, a quick history lesson. When BlackRock decided to move USD1trn of common trust fund assets from State Street to J.P. Morgan, the bank said it expected to onboard the assets “over the next two years”. That never happened. In fact, it took over three years to finish the project. Transitions are complicated, and J.P.…
BNP Paribas to act as depositary for new FII SGR PE fund in Italy
BNP Paribas Securities Services has been selected by Fondo Italiano d’Investimento SGR (FII SGR) to provide depositary banking services to its Fondo Italiano di Minoranze per la Crescita, a new private equity fund dedicated to minority investing. FII SGR was created in 2010 at the initiative of the Italian Ministry of Economy and Finance and…
BNY Mellon to service Legg Mason’s first semi-transparent ETF
Legg Mason and its affiliate, ClearBridge Investments, have launched Legg Mason’s first exchange-traded fund using the semi-transparent technology of Precidian Investments LLC, ActiveShares. BNY Mellon has been appointed to provide its new end-to-end digital solution to support the ETF.
Pierre Mottion joins Cleastream as head of DLT
Pierre Mottion has joined Clearstream as head of DLT and strategy within the company’s investment fund services business, reporting to Bernard Tancré. He was previously global head of transfer agency and fund distribution product at BNP Paribas Securities Services. Mottion will work closely with FundsDLT, the start-up distribution platform in which Clearstream has a stake.