Firm Taps Northern Trust for UCITS Support An investment management firm based in Abu Dhabi, AD Global Investors, will be using the asset servicing and trading solutions from Northern Trust to provide “an extensive range of to support its four new UCITS funds,” officials say. This is the second time that the firm will be… Read More >>
Northern Trust, FIS Collaborate on Private Equity Tools
Custodian bank Northern Trust has been collaborating with vendor FIS to offer private equity fund administration clients better reporting and analytical tools that will bring more transparency to fund operations, facilitate on-demand data and deliver customized views of portfolio information. The collaboration is built upon FIS’s Data Exchange Reporting and Analytics (DX R&A) solution, officials… Read More >>
SuMi Trust USA to Use DTCC’s GC Direct
First Japanese Custodian Bank Signs Up for Alert Service Sumitomo Mitsui Trust Bank is the first Japanese global custodian firm to use the Alert Global Custodian Direct (GC Direct) service to provide standing settlement instruction (SSI) data to its clients, report officials of the DTCC, a major post-trade services and systems provider. The agreement enables… Read More >>
Northern Trust Merges Hedge Fund & Private Equity Services
Custodian bank Northern Trust has merged its private equity and hedge fund businesses and relaunched the combined groups as the North America Alternative Fund Services to reflect a convergence underway in the industry. The refocused group is in line with investment managers who are adjusting to new operational challenges “as they move across asset classes… Read More >>
U.S. Firms Prepare for Tougher E.U. Privacy Regs
(Editor’s note: The General Data Protection Regulation (GDPR) from the European Union was created to do two major jobs: replace the Data Protection Directive 95/46/EC, and to harmonize data privacy laws across Europe, officials report. The new legislation, when it takes effect May 25, 2018, is intended to “protect and empower” data privacy and “reshape… Read More >>
Northern Trust Reviews Benefits of the T+2 Move
(Editor’s note: On September 5, after what was likely a marathon transition over the Labor Day weekend, the U.S. securities industry shortened the securities settlement cycle from three business days, known as T+3, to a settlement cycle of two business days, or T+2. This overhaul followed years of preparation, and was carried out by key… Read More >>
GuideStone Expands Relationship with Northern Trust
A longtime global custody client of Northern Trust, GuideStone Funds, a mutual fund complex with more than $11 billion in assets under management (AUM), is expanding its relationship with Northern to include fund accounting and fund administration services. The fund servicing mandate will encompass the GuideStone Funds family, including 26 registered mutual funds with $11.6… Read More >>
Northern Trust to Hire 400 for Ops in Ireland
Northern Trust to Expand Staff over Five Years Northern Trust, a provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals, reports that it will expand its operations in Limerick, Ireland, by adding up to 400 new jobs over the next five years. This the fourth time Northern… Read More >>
Vendor 3di Hires Specialist from BNP Paribas
IPUG Vet to Lead RegTech Effort at 3di 3d innovations (3di), a data management software and services vendor serving buy- and sell-side firms, has hired market data specialist John Ikel from BNP Paribas to drive its main consulting and product unit for data governance, vendor officials say. Hiring Ikel is part of “a natural restructuring… Read More >>
Broadridge Applies Blockchain/DLT to Proxy Process
JPMorgan, Northern Trust & Banco Santander Aid Broadridge Pilot This is the season for blockchain/distributed ledger technology pilots as Broadridge Financial Solutions, JPMorgan, Northern Trust and Banco Santander have announced that they been working on a pilot test project that uses blockchain technology to improve “global proxy vote transparency and analytics,” officials say. The… Read More >>
