Chief information officers, or CIOs, who often drive digital business strategy and IT innovation for financial services firms, “must align with business leader priorities” to ensure a coordinated COVID-19 response and recovery, according to the summary of a recent report from Gartner, Inc. Automation and technologies to sustain and improve remote work are two investment… Read More >>
Allianz Picks IHS Markit’s thinkFolio Platform
Allianz to Use AWS as Platform Host Allianz Global Investors, an asset manager, has adopted IHS Markit’s thinkFolio investment management platform for its global fixed income business, the firm says in a statement, which also notes that the firm will “leverage thinkFolio as a managed service hosted on the Amazon Web Services … cloud.” The thinkFolio… Read More >>
SimCorp’s Dimension Moves to Microsoft’s Azure: Q&A
(SimCorp, a provider of multi-asset investment management solutions and services, recently announced that it will be integrating its Dimension platform with the Microsoft Azure cloud computing platform. This phased integration will yield the hosted, SimCorp Dimension-as-a-Service offering via a public cloud, officials say. The move is the vendor’s response to the needs of its clients… Read More >>
Calpers Chief Investment Officer Abruptly Resigns
Calpers Board to Review the Matter on August 17 Yu (Ben) Meng abruptly resigned from his post as chief investment officer for the approximately $409 billion California Public Employees’ Retirement System (Calpers) pension fund. Meng, whose resignation became effective August 5, became the chief investment officer in January 2019. Calpers has appointed Dan Bienvenue, deputy… Read More >>
State Street to Service T. Rowe Price’s Active ETFs
State Street to Provide a Range of Services Rowe Price has appointed State Street as the service provider for four, newly launched active exchange-traded funds (ETFs) that are listed on NYSE Arca, Inc. “As part of the agreement, State Street will provide services including basket creation, dissemination, settlement, custody, fund accounting, order-taking, financial reporting, performance… Read More >>
New OCIE Team to Focus on Emerging Threats
In the wake of a pandemic lockdown, the SEC has created a small army of experts that will work with the regulator’s Office of Compliance Inspections and Examinations (OCIE) to quickly react to “emerging threats and current market events” and deliver expertise and resources to the SEC regional offices. The OCIE oversees examinations of SEC-registered… Read More >>
U.K. Regulator Blocks FNZ’s Purchase of GBST
U.K. regulator, the Competition and Markets Authority (CMA) has decided to block FNZ’s controversial acquisition of GBST, arguing that the combined company will lead to less competition, which could foster higher costs and a drop in the quality of service for U.K. consumers. After a fierce bidding war last summer that involved FNZ’s competitors Bravura… Read More >>
Temenos Applies Artificial Intelligence to Fund Accounting
Software vendor Temenos is applying artificial intelligence (A.I.) technologies to fund accounting in an effort to help its fund administration clients identify false-positive exceptions faster, which can help them reduce the number of manual interventions they need to do as part of the exception management process. To help firms better identify false positives, Temenos has… Read More >>
Fifty Firms Sign Up for DTCC’s MTU
Firms Automate Margining Tasks The DTCC’s Margin Transit Utility (MTU), an automated margin call service, now has the support of 50 financial services firms that are striving to automate manual systems amid volatile markets, officials say. The MTU service includes connectivity from AcadiaSoft’s Margin Manager and DTCC’s Alert for standing settlement instructions (SSIs), links to… Read More >>
State Street’s Alpha Hits Its Stride: Q&A
(State Street Alpha is a front-to-back office asset servicing platform that the global custodian bank is offering to investment managers, hedge funds, asset owners, and insurers. The front- and middle-office components of Alpha are from the Charles River Investment Management Solution (IMS) platform, a result of State Street Corp.’s $2.6 billion acquisition of Charles River… Read More >>
