State Street Corporation said today it will begin providing custody and fund accounting services to St. James's Place, the wealth management group. St. James's Place has 8 billion in assets under management. "We appointed State Street as our preferred provider
Wachovia Corporate and Institutional Trust has been appointed stock transfer agent and employee stock purchase plan provider for the John H. Harland Company. Headquartered in Atlanta, Georgia, Harland is a provider of software and printed products to the financial institutions
Thomas Murray has given an overall public French domestic custody rating of AA to CDC IXIS, with a stable outlook. The ratings company said that CDC IXIS demonstrates a very strong French domestic custody offering and has been upgraded as
Despite moving more than $1 trillion in nonperforming loans off their books since the Asian Flu crisis of the late 1990s, Asia's banks and asset management companies must resolve another $1 trillion in bad loans says a new report from
The global asset management industry consists of two businesses one serving 'professional' clients (whether institutional or retail) and the other serving 'non professional' clients. Customer needs and the business models are so fundamentally different that the industry will restructure around
SEB Merchant Banking and OMHEX have reached an agreement by which the Swedish custodian bank will provide custody and clearing services in the Finnish market for local clients of OMHEX. Under the agreement, the Helsinki branch of SEB will assume
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
JPMorgan Investor Services (JPMIS) said today that will join forces with Vestmark to provide a more cost effective outsourcing solution for managed accounts. JPMIS said it will launch a new comprehensive servicing solution for investment managers and sponsors looking to
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
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