State Street has been appointed to provide risk analytics services for Emory Universitys $5 billion endowment fund.
The entire endowment will be supported by State Street, which will perform data management and aggregate data to provide a view of portfolio exposures and risk characteristics. State Street is already providing custody, performance and compliance services for the Emory fund.
“State Street’s ability to customize its services to meet our specific needs as well as its ability to support our requirements across both hedge funds and private equity funds were key factors in our selection,” says Brian Wachob, managing director of Asset Allocation at Emory University.
“We are delighted to expand our relationship with Emory University,” says Rebecca Schechter, senior vice president and head of Foundations and Endowments at State Street. “By providing an end-to-end solution that emphasizes rigorous data management through to report generation, clients have access to tools that can help them make more informed investment decisions.”
Separately, BNY Mellon has been appointed as the depositary bank for the Latin American retail conglomerate Cencosuds American depositary receipt program.
Each Cencosud ADR represents three ordinary shares and trades on the New York Stock Exchange under the symbol CNCO.
Cencosud, which operates in Argentina, Brazil, Peru and Chile and employs close to 100,000 people, ordinarily trades shares on the Santiago Stock Exchange under the symbol CENCOSUD.
“Cencosud is the first listing out of Chile this year and a noteworthy transaction, given global market conditions,” says Michael Cole-Fontayn, CEO of BNY Mellon’s Depositary Receipts business. “Being appointed depositary for this milestone only reinforces our presence in Latin America, and we look forward to working closely with Cencosud to raise the company’s visibility among investors.”
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