Asset servicing provider Brown Brothers Harriman (BBH) has been tapped to provide custody and fund order services for a Chilean insurance company, Compañia de Seguros Confuturo SA, which, in its role as an institutional investor, oversees $2 billion in assets abroad, officials say. “Confuturo’s investments abroad have increased significantly, as has the diversity of instruments,… Read More >>
AB Bolsters Funds Data Ops via Expansion Project
Asset manager AllianceBernstein has expanded its usage of BBH Infomediary Data Solutions across its fund operations to achieve data consistency, better production cycle times, customized data tagging, and improved data transparency, officials say. BBH Infomediary Data Solutions, a part of the private bank Brown Brothers Harriman & Co. (BBH), offers data integration and connectivity services…. Read More >>
BBH’s Infomediary Expands Into Managed Services
Brown Brothers Harriman (BBH) is expanding its Infomediary data integration and connectivity offering into a broader set of data management services, now known as Infomediary Data Solutions. The updated suite of data offerings, part of BBH’s Investor Services division, targets asset managers and financial institutions with a combination of data management technology and managed services,… Read More >>
BBH Takes Aim at Latencies in Securities Lending
(To help its securities lending clients with their transition to T+1 shorter settlement, Brown Brothers Harriman (BBH) is examining securities loan recall lifecycles to find any latencies that may be caused by batch processing or bespoke messaging for Swift processes, says Sarah Holmes, global head of securities lending at BBH. In her new role, Holmes… Read More >>
State Street Buys BBH Investor Services for $3.5B
State Street Corp. is acquiring the custody, accounting, fund administration, global markets, and technology services of private bank Brown Brothers Harriman & Co. — known as BBH’s Investor Services business — for $3.5 billion in cash in a major bid to become the top provider in the investment servicing industry. The firms report that they… Read More >>
BBH to Service Hong Kong’s First Active ETF
BBH to Be Registrar for Active ETF Brown Brothers Harriman & Co. (BBH) has been appointed as the custodian and administrator for the first actively managed exchange traded fund (ETF) domiciled in Hong Kong, officials report. “The ICBC CICC USD Money Market ETF is being launched by China International Capital Corporation (CICC) with ICBC Asset… Read More >>
BBH’s Top IT Exec to Head Fintech Business
Brown Brothers Harriman & Co. (BBH), the venerable private bank founded in Philadelphia in 1818, reports that Michael McGovern, a managing director, has been appointed head of the firm’s investor services’ financial technology offerings, which include middle office services, its proprietary Infomediary offering, and other software-as-a-service (SaaS) technology for asset managers and financial institutions Infomediary,… Read More >>
BBH to Use Enhanced Omgeo Alert Service
Post-trade services provider Omgeo, a wholly owned subsidiary of the DTCC, reports that Brown Brothers Harriman (BBH) has become the first global custodian bank to go live on Omgeo’s new GC Direct-enabled Alert service. The Omgeo Alert GC Direct offering is intended to improve “the management of account information and standing settlement instruction (SSI) data… Read More >>
Forging IT Leadership in the Regulation Decade
A keynote speaker for the19th ISITC Annual Industry Forum and Vendor Show in Boston this week focused on the industry trade group’s raison d’être when he urged those in attendance to take on the “big challenges” such as driving a consensus to make standards reality such as the push for wider usage of ISO 20022-based… Read More >>
