HSBC Securities Services has hired Adnan Hussain as global head of agency lending. He is based in London and reports to Seb Danloy, global head of asset managers & owners. Hussain joins from BNP Paribas, where he was global head of agency securities lending and head of market and financing services for the UK. The…
Category: Bank Providers
HSS appointed as administrator for first OFC in Hong Kong
HSBC Securities Services has been appointed the custodian and fund administrator for Pacific Hawk Global OFC, the first open-ended fund company launched in Hong Kong. The assets of OFCs must be segregated from those of the investment manager and entrusted to a separate, independent custodian for safekeeping. An OFC must appoint a custodian which meets…
HSS appoints Tania Mahler as global head of bus dev for PA
HSBC Securities Services has appointed Tania Mahler as global head of business development, private assets. Mahler, who joined HSS in 2018 from BNP Paribas, is based in London and reports to Tony McDonnell, global head of private assets.
SGSS to service Italian healthcare fund for Primonial
Société Générale Securities Services in Italy has been mandated by Primonial Luxembourg Real Estate to provide depositary and fund administration services for its Primonial Italian Healthcare Fund. Primonial is an independent asset manager based in France.
SGSS to service Alpha Real Capital’s UK PAIF
Société Générale Securities Services has been appointed by UK-based Alpha Real Capital LLP to provide custody and depositary services. SGSS is providing custody and depositary services to Alpha Real Capital’s new UK property authorised investment fund (PAIF).
David Suetens steps back from Lux role with State Street
After seven years at State Street, David Suetens has decided to take a step back, “for personal reasons”. Suetens will be replaced in his role as head of State Street’s Luxembourg businesses by Eduardo Gramuglia Pallavicino, but will continue in his role as a supervisory board member and chair of the risk committee of State…
U.S. Bank appoints HSBC for Saudi sub-custody
U.S. Bank now offers investors access to the Saudi Arabia market. HSBC Saudi Arabia will act as sub-custodian and Saudi Arabia British Bank as cash correspondent bank. HSBC and SABB will provide U.S. Bank with local custody and cash clearing services for investment services clients investing in Saudi Arabia through the qualified foreign investor (QFI)…
BNP Paribas to service Nikko Asset Management’s first passive ETF
BNP Paribas Securities Services has been appointed as custodian and administrator for Nikko Asset Management’s first passive ETF, domiciled in Hong Kong. As part of the mandate, BNP Paribas will provide middle office, custody services, trustee, transfer agent and fund administration. This expands an existing relationship between Nikko Asset Management and BNP Paribas.
Petroleum Development Oman hires State Street
State Street has been appointed by the Omani Staff Pension Fund for Petroleum Development Oman to provide custody and investment servicing solutions for >USD2.3bn AuM. PDO has been a client of State Street Global Advisors for several years, and this mandate represents a new collaboration for one of Oman’s largest private sector employers with State…
U.S. Bank joins CREST with BNP Paribas as sponsoring member
U.S. Bank has been authorised by CREST, the UK-based central securities depository, to operate as a direct participant in the UK and Irish markets, with BNP Paribas serving as sponsoring member. Earlier this year U.S. Bank appointed BNP Paribas as its European regional custodian for 11 markets, in addition to the UK and Ireland.