Custody

BACA Adds Yugoslavia to Its Network

Bank Austria Creditanstalt has added Yugoslavia to its east and central European agent banking network. Bank Austria HVb Group first upgraded its representative office in Belgrade to a full subsidiary in October last year. The new branch where custody services

Northern Trust Boasts of Big Insurance Wins

Northern Trust says it has added $15 billion to assets in custody with a series of big wins in the US insurance industry. New insurance industry clients including USAA, Imagine Reinsurance, Mutual Insurance Company of Arizona and the Michigan Millers

Deutsche Wins £950 million Hanson Custody Mandate

As if to prove that rumours of its death were greatly exaggerated, the Global Securities Services division at Deutsche Bank has just won a 950 million global custody mandate from the Hanson building materials group pension fund.

JP Morgan Chase Launches New Compliance Reporting Tool

JP Morgan Chase has launched a new third party compliance capabilities within its compliance reporting services platform. The compliance reporting suite offers customization of rules and reports and the reduction of manual compliance checks. With the new third party compliance

Northern Trust Wins PMI Mandate in the Netherlands

The EUR 13 billion PMI pension fund has selected Northern Trust to provide a full range of global custody services, including regulatory reporting for PVK (Chamber of Pensions and Insurance) and CBS (The Central Bureau of Statistics), on line daily

DBS Positive Despite 28 percent Fall in Profits

KAS BANK clearing specialist on Euronext Paris KAS BANK is the first General Clearing Member of Euronext that is able to provide clients of the three underlying Euronext exchanges with its services from one portal instead of from three different

Mercer Rebuts Critics of Fund Manager Selection Process

KAS BANK clearing specialist on Euronext Paris KAS BANK is the first General Clearing Member of Euronext that is able to provide clients of the three underlying Euronext exchanges with its services from one portal instead of from three different

Fitch Downgrades Deutsche Bank Rating

Fitch Ratings, the international rating agency, has downgraded Deutsche Bank's Individual rating to 'B C' from 'B' and at the same time has affirmed its Long term rating at 'AA', removing both from Rating Watch Negative. A Negative Outlook is

UBS Results Also Down on 2000

UBS reports net profit after tax for 2001 of CHF 4,973 million, 36% less than the previous year. Pre goodwill, net profit was 28% lower than was achieved in the markedly stronger markets of 2000. Although UBS is still constrained

Fund Managers Re-discover Emerging Markets

As professional optimists, fund managers rarely see a glass less than half full. According to the latest Merrill Lynch survey, they now reckon emerging markets are the best antidote to the undoubtedly gloomy short term outlook in the United States.