Custody

UBS Asset Management Chooses OM Corporate Actions Solution

OM announced today that UBS Global Asset Management (UK) Ltd has become the first buyer of its corporate actions workflow solution. UBS Asset Management was part of an "early adopter" programme run by OM. The entry of the Stockholm based

OM ASP Service Attracts Broker-Dealers

OM announced today that BB&T Capital Markets and Galway Securities Corporation have contracted with the company to deliver institutional order management services via OM's ASP service. The Swedish trading and transaction technology company says the deal "underscores the continuing trend

Resch Plugs CFO Gap at State Street

After a six month interregnum, State Street has a new CFO. Edward J. Resch, until recently CFO at Pershing, takes the post, which reports to David Spina, Chairman and Chief Executive Officer. "We are very pleased to have an individual

WestLB Outsources to ADP and ADP Wilco

ADP Brokerage Services Group (ADP) announced today that WestLB AG had signed a long term outsourcing agreement to use ADP OMR's TradeThru ASP solution for their treasury processing in London . The intention is to expand the agreement" to other

Celent Predicts $12 Billion Market For Basle II Solutions By 2005

Celent Communications predicts that global expenditure on operational risk management initiatives could hit $12 billion by 2005. The prediction appears in "Basle II A False Sense of Security?" a new report from Celent which reckons operational risk weightings are by

Mellon Secures $18 Billion Arizona Pension Fund Mandate

Mellon Global Securities Services (GSS) announced today that it had secured the custody mandate for the Arizona State Retirement System (ASRS). Mellon will provide custody, securities lending, benefit disbursement, and depository services, while Russell Mellon Analytical Services will supply performance

Celent Publishes Study of Equity Market Data Suppliers

Celent Communications have published a study of the market in equity data. In a new report , entitled "Achieving Market Data Integrity A Critical Mission," the consultancy looks at the processes involved in achieving data integrity and identifying the ultimate

Olivier Leroy Takes Charge of Mutual Funds at CDC Ixis

CDC Ixis announced today that Olivier Leroy had been appointed Director of the Services to Fund Managers Agency, where he will be in charge of investor services, middle office and regulatory compliance, within the Custody Services Division of CDC IXIS.

BNP Paribas Launches London Clearing Operation

BNP Paribas Securities Services has begun processing transactions for UK securities in London. This marks the launch of domestic UK securities clearing and custody as part of the Multi Direct Clearing and Custody (MDCC) service the French bank offers in