Wilshire Associates has appointed U.S. Bank to provide custody, fund administration and transfer agency services for its family of nine mutual funds with USD1.9bn in assets. U.S.-based Wilshire will continue its relationship with U.S. Bank to service alternative investments, as well as U.S. Bancorp Asset Management for securities lending and overnight investment of cash balances.
Category: U.S. Bank
U.S. Bancorp to sell Quasar Distributors to Foreside
Foreside Financial Group, LLC, the U.S.-based provider of regulatory and compliance service and technology offerings to clients in the global asset and wealth management industry, intends to acquire U.S. Bancorp’s mutual fund and exchange-traded funds distribution business, Quasar Distributors. The transaction is expected to close in the first quarter of 2020. The acquisition will also…
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)…
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.
U.S. Bank appoints BNP Paribas as European custodian
U.S. Bank, one of the world’s top 10 custodians with USD6.8trn AuC/A, has appointed BNP Paribas Securities Services as its custodian in 11 European markets (Austria, Belgium, Cyprus, France, Germany, Greece, Italy, the Netherlands, Portugal, Spain and Switzerland), as well as local custody services in the UK and Ireland. The relationship covers over USD10bn in…