GoldPoint Partners, a New York-based private equity manager that was formerly known as New York Life Capital Partners, and that is an affiliate of New York Life Investments, reports that CPA Sean Gelb has joined the firm as chief financial officer. Gelb will “oversee the day-to-day accounting for the firm and its funds,” GoldPoint says… Read More >>
Linedata Fills EVP Post for Sales
Linedata has appointed John Kiley executive vice president (EVP) of sales and co-head of the global front and middle office asset management business line, officials say. Kiley will be responsible for global business development and client adoption strategies across the front and middle office product suite, including Linedata Longview, Linedata Trader+, Linedata Compliance and Linedata… Read More >>
ICG in Guatemela to Use Intix Message Warehouse
Officials at Intix, a Belgium-based provider of financial industry solutions, report an agreement with Imágenes Computarizadas de Guatemala (ICG) to furnish its message warehouse solution to ICG and its four major banks. ICG is a private non-profit, headquartered in Guatemala, that “provides software applications and technology services for the checks clearinghouse, ACH [automated clearing house] and SWIFT… Read More >>
Ex-CFTC Chairman Joins BitFury Advisory Board
BitFury Group, a Bitcoin blockchain infrastructure provider and transaction processing company, has added James Newsome, the former chairman of the CFTC and former CEO of the New York Mercantile Exchange (NYMEX) and Hernando de Soto, the president of the Institute for Liberty and Democracy (ILD), to its advisory board, officials say. The company has also… Read More >>
Outsourcing Exposes Flaws, Disrupts Staff: Industry Panel
As regulatory burdens continue to bear down on firms, the many flaws of manual, legacy or otherwise outdated systems and processes are becoming increasingly apparent, leading more and more firms to view outsourcing as an attractive option. Yet outsourcing will lead to disruptions among staff — perhaps even layoffs — and will change the role… Read More >>
Firms Topple the Securities Lending Silo
The deep recession of 2007-08 and the wave of regulatory reforms that followed have spurred a transitional period for the niche realm of securities lending operations as firms struggle to balance the competing demands of operational efficiency and organizational oversight, according to a new report from market research firm Finadium. The report, “A New Look… Read More >>
SHSC Poised to Take Off: Celent
The long-term success of the Shanghai-Hong Kong Stock Connect (SHSC), depends on knocking down the remaining barriers to entry, including “features of the program that restrict trading strategies, introduce risk and create operational complexity,” according to a white paper published by market research firm Celent and commissioned by the DTCC. SHSC is the link between the… Read More >>
ETFs Picking Up Steam: Report
With liquidity drying up in the cash market, fixed income exchange-traded funds (ETF) have emerged “as an alternative product that allows investors to navigate an increasingly difficult market environment,” according to a new report by market research firm TABB Group. As evidence, TABB cites the fact that assets under management in corporate bond ETFs have… Read More >>
Citi’s McKenna to Serve as Head of Standards for GLEIF
The Global Legal Entity Identifier Foundation (GLEIF) has appointed Karla McKenna as its new head of standards, effective immediately, officials say. McKenna, a well-known specialist in financial standards, will be responsible for “facilitating the development and implementation of GLEIF standards and leveraging international standards from organizations such as the International Organization for Standardization (ISO) to… Read More >>
HSBC to Cut Up to 13,000 Ops Jobs
HSBC will be cutting up to 13,000 operations positions as part of its massive effort to cut 50,000 employees in a major overhaul of its businesses, which bank officials detailed this week in a presentation for investors and analysts. About half, or 25,000 positions will be eliminated because of business decisions by the bank and… Read More >>
