ING Bank buys CSFB Custody Operation in Moscow

ING has acquired the custodian business of CSFB in Russia, adding 140 clients to its existing base of 300. The value of assets in custody with the bank have risen by $2 billion to $18.2 billion, says ING. This is

Canada Pension Plan Investment Board Retains State Street

State Street has been retained by the Canada Pension Plan Investment Board (CPP Investment Board) to provide custody, performance measurement and investment accounting services. Askari, a State Street business unit, will provide risk management services. On winning the business, David

Ailing ABN Amro Pays 6,673 Staff to Go Away

The leading European custodian bank, ABN AMRO, is struggling to reduce costs. It recently merged its corporate and investment banking arms, took the axe to its Japanese operations and similar outlets in another ten countries, and is now shedding staff

RBC Wins $2.75 Billion EFM Mandate

RBC Global Services, Institutional & Investor Services (IIS) today announced that it has been awarded a US$2.75 billion global custody mandate by Edinburgh Fund Managers plc (EFM), one of Scotland's leading investment houses. RBC Global Services will be responsible for

Dog Bites Man in Kiev

Anybody out there investing in Ukraine? If so, and you are using Bank Austria Creditanstalt Ukraine, please remember that from 21 Febnruary 2002 it has changed its name to HVB Bank Ukraine. This follows the acquisition of Bank Austria by

CIBC Mellon Enhances Workbench

CIBC Mellon has enhanced Workbench, its browser based, real time reporting and global market information tool. This update allows institutional investors and their investment managers to customize their Workbench home page to display information that is of business interest to

Northern Trust And Vestek Create 'Fund Peek Through'

The Northern Trust Company has launched Fund Peek Through, the enhancement to the Northern Trust Passport reporting package, which allows plan sponsors and other institutional investors to "drill down" into mutual funds and view detailed asset information on all the

Bank Austria and Creditanstalt Join Their IT Systems

Following the merger between Bank Austria and Creditanstalt, the two banks will move on to a single IT system on 10 August 2002. "Please rest assured that the migration will have no impact on our current custody settlement procedures, deadlines

European Pension Funds Gang Up on Corporate Governance

Hermes Focus Asset Management Europe is launching its European Focus Funds on 25 February, with 7 pension fund investors and a total of EUR 300 million in committed funds. Initial investors are BT Pension Scheme (the largest UK pension scheme

UBS Reports Suspicion Of Money Laundering

As part of its ongoing internal control procedures, UBS in Zurich has identified a business relationship with a suspected connection to the family of the late Nigerian Dictator Sani Abacha. UBS has reported this suspicion to the Swiss Federal Banking