TMF Group has acquired U.S. fund administration firm Venture Back Office in an effort to expand into the U.S. market.
Kay Hayre was named co-head of investment managers sales at Bank of New York Mellon.
Citi named a new head of sales for custody and fund services for Europe, Middle East and Africa.
Transition managers have been among the few firms that have benefited during the coronavirus pandemic.
Jane Mancini was named head of sales for asset servicing Americas at Bank of New York Mellon.
Mat Cook and Rob Dixon were named senior transition managers at Northern Trust Corp.
Francisco Aristeguieta was named CEO of State Street Corp.'s international business.
Options Clearing Corp. named John Davidson as the new CEO of the Chicago-based equity derivatives clearinghouse.
Despite Fidelity's new custody service, institutional asset owners still on sidelines in cryptocurrency investing
Daniel Houlihan was named head of asset servicing, Americas, at Northern Trust.
State Street Corp. acquired foreign-exchange analytics provider BestX.
Andrew Allright was named CEO of InfraHedge, State Street Corp.'s managed account investment platform.
AI and blockchain developments could open the door to more standardization in the asset-servicing industry.
Alternative assets under administration as of Dec. 31 totaled $8.42 trillion, up 10.2% from the prior year.
SS&C Technologies Holdings said it would acquire fund administrator CACEIS North America from Credit Agricole.
Edwin Chan was named manager of business development for Europe, the Middle East and Africa at Northern Trust.
Alter Domus Group is acquiring fellow fund administrator Cortland Capital Market Services.
SS&C Technologies Holdings acquired Canadian fund administrator CommonWealth Fund Services.
A quick jump in interest rates could lead some pension plans in LDI programs to use transition managers when moving assets to derisk.
Transition managers are seeing a spike in moves to passive equities from active strategies among public defined benefit funds since the start of the year.
Recent hacking attempts have third-party fund administrators on alert to secure the huge volume of investment and other data they hold for alternatives managers.
BlackRock hired J.P. Morgan Chase as custodian to more than $1 trillion in BlackRock client assets.
Fund administrators are expanding into infrastructure as asset owners move more money into the asset class.