JPMorgan Treasury Services has been chosen by the OECD to manage its international banking operations. The bank will assist in the OECD's financial reform programme by consolidating global bank accounts, automating treasury functions and developing a more sophisticated cash management
State Street Corporation announced today that third quarter revenues were $972 million, down just 1%, or $13 million, compared to $985 million a year ago. And net income was $182 million, up from reported net income of $170 million and
The fall in markets has now persuaded many UK pension funds to look seriously at hedge funds. Or so says Bobby Riddaway, senior investment consultant at HSBC Actuaries and Consultants Limited, the actuarial, pension administration, employee benefit insurances, accountancy and
CPR Asset Management, a subsidiary of Crdit Agricole, has selected Institutional Shareholder Services (ISS) as its exclusive provider for proxy voting services. CPR will utilise ISS's VoteX platform for voting of all funds across both French and international markets. CPR
ADP Brokerage Services Group announced today that fund managers Weiss, Peck & Greer LLC have decided to continue outsourcing the processing of securities transactions to ADP Brokerage Processing Services (BPS). ADP's Brokerage Processing Services processes equities, options, fixed income securities
Canadian pension plan sponsors continue to reduce their investment in both domestic equity and fixed income and to diversify their portfolios. The effects include a growing utilization of specialty managers, an inclination toward re balancing, and salary gains for pension
Four European banks will spend in excess of €2 bn on information technology (IT) in 2002. Deutsche Bank will top the list with €3.1 bn, while UBS and HSBC will spend €2.8 bn each, and ABN Amro will spend €2.3
SMBC President and CEO Yoshifumi Nishikawa announced today that SMBC has obtained regulatory approval to engage in trust business and that SMBC will begin offering trust services for customers from October 22, 2002. SMBC plans agreements with three trust banks,
Confirmation today that the correspondent clearing business in their UK is hotting up with the news today that JHC Securities a subsidiary of retail stockbroking software developers JHC Plc is to offer outsourced retail broking and clearing services to stockbrokers
The Bank of New York announced today that it has been appointed as security trustee, custodian, U.S. depositary, collateral agent, and issuing and paying agent by HBOS Treasury Services plc (HBOSTS) for the Grampian Funding program. The transaction is a