05AUG19: Oak and Fairway Group, both C.I.-based administrators, plan to merge. Fairway is an owner-managed fiduciary business with over 100 employees offering trust, corporate, fund administration and pension services in Jersey. Oak, a private client, corporate services and fund administration business, has its HQ in Guernsey, with offices in the Isle of Man, Jersey, Luxembourg,…
Category: Offshore
Lisa Crawley joins Alter Domus as COO
05AUG19: Lisa Crawley has been appointed chief operating officer of the Luxembourg-based Alter Domus Group. She will be responsible for Alter Domus’ operations globally, reporting directly to Aidan Connolly, CEO. Before joining Alter Domus, Crawley was director of business support at Worldpay in the UK.
JFSC fines SANNE GBP350K
29JUL19: The Jersey Financial Services Commission has fined SANNE, the C.I.-based administrator, GBP381,010 (USD470,000) for regulatory failings relating to SANNE Fiduciary Services Ltd. No party suffered losses as a result of the breach.
Leadenhall Capital Partners appoints U.S. Bank as Irish UCITS depositary
23JUL19: U.S. Bank has been appointed as depositary services provider for the Leadenhall UCITS ILS Fund PLC. In this role, U.S. Bank will provide asset safekeeping, fiduciary oversight and cash monitoring to Leadenhall Capital Partners LLP. Through its global fund services business, U.S. Bank will also act as the principal administrator of fund accounting, financial…
Hermes appoints Northern Trust for FX management in Ireland
23JUL19: Northern Trust has been appointed by Hermes Investment Management to provide currency management services for its Irish fund range. Ian Kennedy, COO, Hermes Investment Management, said: “Northern Trust have been able to automate our sophisticated currency management investment process and deliver comprehensive reporting and analytics for us. This has increased operational efficiency and enhanced…
Pzena IM extends NTRS relationship to Ireland
22JUL19: Pzena Investment Management, a U.S.-based money manager with USD37.4bn AuM, has selected Northern Trust as fund administrator and global asset servicing provider for its Ireland-domiciled UCITS funds. The appointment extends Pzena’s existing relationship in the U.S. and Australia with Northern Trust.
Vistra to service Catella’s Lux-domiciled residential fund
22JUL19: Vistra has been appointed as AIFM and depositary of Catella European Residential Fund III. The fund is the first Luxembourg-based pan-European vehicle allowing international investors access to a geographically diversified portfolio of assets in the residential sector.
Two new M&A deals in independent fund admin sector
19JUL19: Two M&A transactions in the independent sector: Inflexion Private Equity is set to acquire Estera, a provider of funds, corporate and trust services, from Bridgepoint. Following completion of the investment, Estera will be merged with Inflexion’s existing portfolio company Ocorian. The combined business will operate from 18 global jurisdictions, including Bermuda, Cayman, Guernsey, Ireland,…