JP Morgan Boosts Corporate Trust With SST Acquisition

J.P. Morgan Chase & Co. and Systems & Services Technologies, Inc. (SST) announced that the parties have signed a definitive agreement under which JPMorgan will acquire SST, a wholly owned subsidiary of III Associates. A leading third party servicer, SST

David Bilbe Joins BBH

David Bilbe, the SVP who is the public face of institutional custody sales at State Stteet Bank & Trust Company in London, is joining Brown Brothers Harriman as Managing Director of Investor Services. Unlike State Street, BBH is not seeking

New Clearing System In Prospect for Finland

Finnish custodians wrestling with client service complaints have long had to struggle with one of the least developed market infrastructures in Europe. So they are among supporters of the plan by the Helsinki Stock Exchange (HEX) to develop a new

India Moves to T+3 Settlement

Continuing to reform India's securities processing infrastructure, the country's regulator, the Securities and Exchange Board of India (Sebi), has slated April 1 to shorten the settlement cycle from five days to three days. The decision came in a brief statement

Merrill Lynch To Close Denver Meridian Backoffice Operations

Merrill Lynch plans to close its Denver Meridian Complex backofficeoperations by midyear, affecting about 1,200 employees, who will have achance to relocate or get a severance package. The 125 or so employees inthe retirement group will remain in the Denver

GOAL Joins Forces With Wilco

Wilco International, a wholly owned subsidiary of ADP Inc announced an alliance with withholding tax software and services specialist GOAL (Global Operations and Administration Ltd). The alliance will extend the range of Wilco's corporate actions solutions by providing access to

Euro MTS to Choose CCP Provider By Christmas

EuroMTS is close to choosing between London Clearing House (LCH) and Clearnet as its Central Counter Party (CCP) service provider, and a decision is expected by Christmas. The Italian born fixed income trading platform has learnt the lesson of the

State Street Appointed Transition Manager By Japan Travel Bureau

State Street Securities Company Ltd., a wholly owned subsidiary of State Street Corporation, announced today that it has been appointed transition manager for the pension fund of Japan Travel Bureau (JTB) and has completed a portfolio transition utilizing its agency

South African Win for State Street

Nedbank, part of Nedcor banking group, and State Street Bank and Trust Company, the principal subsidiary of State Street Corporation and the leading US provider of services to public funds, announced today that South Africa's Government Employees Pension Fund (GEPF)

The Bank of New York Announces Change in ADR Index

The Bank of New York announced that, effective December 24th 2001, The Bank of New York ADR IndexSM will be converting to free float adjusted shares from full market capitalization. Free float market capitalization reflects the number of shares actually