Custody

Nedcor Bids to Become Biggest Bank in South Africa

One of the mysteries of the 2001 Global Custodian agent bank survey was the fall in client responses for Nedbank in a year. But if the current Rand 7.3 billion ($650 million) by Nedcor the 53 per cent owned South

Computershare Enters Search For Lost Shareholders

Computershare is entering the shareholder tracing business. "Computershare Shareholder Solutions will effectively cut out the middle man and bring a professional approach to an area that has previously been populated by one man bands and bounty hunters," says Jeff Sainsbury,

NAPF Guidelines Welcomed by WM Company

Where there is a regulation there is a business opportunity. So it is no surprise that Edinburgh based performance analysts, The WM Company, are pleased that the National Association for Pension Funds has urged trustees to arrange for the performance

Now JP Morgan Chase Joins State Street FX Platform

JPMorgan Chase will join FX Connect, the multi bank electronic foreign exchange trading system operated by State Street via its Global Link network. This follows the same decision last week by Citibank. This is quite a coup for State Street

BNY Wins Outsourcing Contract From Bank of Overseas Chinese

The Bank of New York announced today its appointment by Bank of Overseas Chinese to service its letter of credit processing. Bank of Overseas Chinese (BOOC), founded 40 years ago, is a publicly listed institution based in Taipei, Taiwan, R.O.C.

State Street Announces First-Quarter Earnings

State Street Corporation announced today first quarter earnings per share of $0.54, up 13% from comparable operating earnings per share of $0.48 in the first quarter of 2001. Operating results for the first quarter of 2001 exclude the write off

HSBC Transaction Cost Tool Wins Second Client

HSBC Global Investor Services (GIS) has sold its transaction cost measurement service (TCMS) to a second client the Royal County of Berkshire Pension Fund. TCMS, launched in February this year, was developed in conjunction with GSCS Limited. It measures individual

Citibank Passes $5 trillion in Custody

Citibank Global Securities Services announced today that it had cleared the $5 trillion hurdle for assets under custody. The question is who cares? This still leaves the bank exactly where it was in fourth place behind Bank of New York,

Frei Quits Pictet for Citibank

Citibank Global Securities Services today announced the appointment of Alfred Frei as Regional Market Manager for North Central Europe. Frei, who will be based in Zurich, will have direct management responsibility for the company's functions in Germany, Switzerland, and Austria.

JP Morgan Expands Corporate Trust Business With Apex Acquisition

JPMorgan Chase Bank, principal bank subsidiary of J.P. Morgan Chase & Co., and APEX Property Exchange, Inc., today announced a definitive agreement under which JPMorgan will acquire APEX's Like Kind Exchange business. Under the terms of the transaction, APEX will