SS&C has signed an outsourced administration arrangement with USAA Real Estate, which acquires, develops, finances and manages real estate assets in North America and Europe. USAA Real Estate will outsource fund accounting and reporting functions, as well as property accounting of operating and under-development investments, to SS&C. USAA Real Estate will also transfer around 60…
Category: Outsourcing
Northern Trust partners with Saphyre
Northern Trust and Saphyre have automated the account opening process for clients of Northern Trust’s investment operations outsourcing business. The two firms collaborated on the solution, which provides a dynamic middle-office function to increase transparency and efficiency for events including account setup, account maintenance and asset transfer requests.
ABN AMRO Investment Solutions outsources to BNP Paribas
ABN AMRO Investment Solutions has appointed BNP Paribas’ securities services business to provide a range of dealing and middle office outsourcing services. These services will be connected with ABN AMRO Investment Solutions via BlackRock Aladdin, the platform selected by ABN AMRO Investment Solutions to unify its investment management processes. BNP Paribas has a long-standing relationship…
Aviva outsources to BNY Mellon
Aviva Investors, the global asset management business of Aviva plc, has appointed BNY Mellon to provide a fully integrated operating model for certain front-office support services, as well as middle- and back-office activities. BNY Mellon will provide a comprehensive solution which encompasses asset services including custody, fund administration and depositary, as well as more advanced…
NPS expands relationship with BNY Mellon
National Pension Service of Korea (NPS), thought to be the world’s third largest pension fund, has expanded its agreement with BNY Mellon to include middle office, accounting and risk solutions, delivered through BNY Mellon’s OMNI platform. NPS appointed BNY Mellon in 2018 as its global custodian for its fixed income portfolios, which were recently onboarded.…
Franklin Templeton outsources TA
Franklin Templeton, the U.S.-based investment management firm that manages USD1.56trn in assets globally, has agreed with FIS, the U.S. based fintech, that FIS will assume operation of Franklin Templeton’s global TA function as a sub-agent or delegate, depending on the jurisdiction. All Franklin Templeton TA employees affected by this change will be given job opportunities.…
JPMAM appoints JPM for MO
J.P. Morgan Asset Management (JPMAM), which has USD2.6trn AuM, has selected J.P. Morgan’s securities services division, part of the corporate & investment bank, to support a new global operations model using its investment middle office services capabilities. JPMAM is commencing a multi-year initiative to implement this model, which includes the provision of middle office services,…
SimCorp launches Investment Accounting as a Service
SimCorp, a U.S.-based provider of SaaS investment management solutions, has launched Investment Accounting as a Service in response to increased demand from buy-side clients to outsource back-office functions. SimCorp’s multi-asset class Investment Accounting as a Service will deliver multi-jurisdictional and regulatory compliant accounting, analytics and reporting, with an advisory overlay. The service is based on…
Citi wins first MO mandate in the Philippines
Citi has been appointed by Sun Life Investment Management and Trust Corporation as its middle office service provider in the Philippines. This mandate makes Citi the first bank in the country to onboard a middle office client. Sun Life Philippines is a financial services institution offering varied business lines including life insurance managed and distributed…
L&G expands relationship with State Street
Legal & General Investment Management (LGIM) is extending its existing partnership with State Street by expanding its usage of Charles River technology and to deliver middle office servicing. LGIM says that the appointment of State Street, as well as the expansion of its use of Charles River technology across a number of its investment management…