Custody

Northern Trust Wins $3.3 Billion Mandate From Lincoln Financial

Northern Trust has won a $3.3 billion US domestic custody mandate from Lincoln Finnacial. The insurer is an existing client, but the new mandate includes treasury management and credit services. "We selected Northern Trust because of their strong reputation and

OMHEX And SEB To Co-operate In Securities Processing

SEB Merchant Banking and OMHEX today said they had entered into a co operation agreement regarding custody and clearing for the Finnish market. Under the agreement, SEB will assume responsibility for the OMHEX custody customers through its Helsinki branch, which

Dresdner Takes Allianz For Another Billion

German insurer Allianz avoided another year in the red in 2003 thanks only to a windfall asset sale after its troubled Dresdner Bank unit turned in a second consecutive annual loss of over Euros 1 billion. CEO Michael Diekmann admitted

HSBC's GIS Upgraded To 'AA' For Global Custody Services

Global Investor Services (GIS), a division of HSBC Bank PLC and part of HSBC Securities Services (HSS), has been upgraded to "AA" overall rating (with a stable outlook) for public global custody by Thomas Murray, a specialist custody rating, risk

European Banks Ahead Of Insurers In Implementing Web Services

According to IDC's European Vertical Market survey, a large number of banks are already using Web services technology, while other financial services companies are working to implement the technology over the next two years. The insurance industry, however, is lagging