Allfunds Bank has been selected by Equiniti, a UK firm specializing in administration, finance and technology, as its fund custodian. The move will see the bank expand its presence in the UK by supporting institutional investors through its global platform.
The bank will provide fund dealing, settlement, reconciliation and sub-custodian services to Equiniti in order to simplify in-house processing and reduce costs.
“The use of our core services along with the growing requirements by our clients to make use of our value add services of funds research and selection tools to support their increasingly global approach to funds has seen our UK client base continue to grow significantly,” says Stepehn Mohan, head of Allfunds Bank UK & Ireland.
Equiniti Investment Services administers £11 billion of assets and transacts over 2500 corporate actions annually.
Mark Taylor, managing director of Equiniti Investment Services, adds: “Our decision to use Allfunds was driven by the capacity Allfunds has to operate at a global level, something which is increasingly important to our clients. As an organisation there was also a cultural fit.”
Allfunds Bank Appointed Fund Custodian by Equiniti
Allfunds Bank has been selected by Equiniti, a UK firm specializing in administration, finance and technology, as its fund custodian. The move will see the bank expand its presence in the UK by supporting institutional investors through its global platform.
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