State Street has entered into an alliance with Coremont, the operations specialist that was spun out from Brevan Howard, a UK hedge fund manager. The alliance will provide fully integrated outsourcing services for hedge fund managers, covering front, middle and back office operations, combining Coremont’s portfolio management analytics and support with State Street’s asset servicing…
Category: State Street
State Street to service first ETF for Water Island Capital
State Street has been appointed as the ETF servicing agent for Water Island Capital’s first ETF, the AltShares Merger Arbitrage ETF, tracking the Water Island Merger Arbitrage USD Hedged Index. State Street will provide services including basket creation, settlement, custody, fund accounting, electronic order-taking, financial reporting, and transfer agency. State Street has worked with WIC…
State Street collaborates with CLS for FX settlement reporting
State Street is collaborating with CLS, an FX market infrastructure group delivering settlement, processing and data solutions, to provide asset managers with a consolidated view of CLS settlement information across their accounts for the first time. The collaboration will combine TradeNeXus, State Street’s electronic post-trade processing service, with CLS’s post-trade monitoring and reporting tool, CLSTradeMonitor,…
State Street forms alliance with Virtus for CDO/CLO processing
State Street has formed an alliance with Virtus from FIS to provide collateralized loan obligation (CLO) and collateralized debt obligation (CDO) technology management solutions to clients in the United States and Europe. Through this alliance, State Street will leverage Virtus’ business process-as-a-service solution to provide services jointly to CLO and CDO clients. Virtus will deliver…
State Street to service ACI’s new semi-transparent ETFs
State Street has been appointed ETF servicing agent and Authorized Participant Representative (APR) for American Century Investments’ new range of semi-transparent, actively managed ETFs. American Century Investments is the first asset manager to receive regulatory approval for two investment strategies, Focused Large Cap Value and Focused Dynamic Growth, both of which will be available through…
State Street partners with iCapital Network for alts distribution
State Street has entered into a new partnership with iCapital Network, the financial technology platform specialising in alternative investment. The collaboration will combine State Street’s registered transfer agency and private market fund administration capabilities with iCapital’s platform technology and distribution network to enhance the offering and servicing of U.S. registered funds. With high net worth…
State Street partners with Gemini for digital asset reporting
State Street has launched a new digital asset pilot in collaboration with Gemini Trust Company, LLC, a cryptocurrency exchange and custodian. The pilot will combine Gemini Custody with State Street’s back office reporting, performing reporting scenarios on a user’s holdings within Gemini Custody. Initially, the pilot reports holdings of two cryptocurrencies chosen for liquidity reasons,…
State Street confirms expansion of relationship with VanEck to include ETFs
State Street has confirmed that it has expanded its servicing arrangement with VanEck, the New York-based manager, to provide ETF services for nearly USD40bn of assets. As part of this arrangement State Street will provide a variety of back office services, including accounting and certain administration functions, for more than 60 VanEck funds. BNY Mellon…
State Street appoints Brian Franz as chief information officer
State Street has appointed Brian Franz as chief information officer. Franz, who joins the company in January 2020, will report to chief operating officer, Lou Maiuri, and will become a member of the management committee. Franz joins from Diageo PLC. His appointment follows the departure of Antoine Shagoury, the previous CIO, earlier this year, and…
Equity Trustees adds to State Street mandate in Australia
Equity Trustees, an Australian trustee company, has appointed State Street for custody and investment administration services for funds managed by Equity Trustees Wealth Services Limited. State Street will provide custody, fund accounting, regulatory reporting, compliance and tax services across a range of managed investment schemes and trusts.