Custody

KPMG Buys Up Teutonic Consulting Practices

KPMG Consulting, Inc. today announced that it has entered into a definitive agreement to acquire KPMG Consulting AG (KCA), the German, Swiss and Austrian consulting units of KPMG DTG for $685 million. With 2001 gross revenue of approximately $540 million

Standard Chartered Wins RBC Mandate in India

RBC Global Services has appointed Standard Chartered its sole custody provider in India. This is a coup for Standard, since RBC is now the eleventh largest global custodian, with a network spanning 82 markets. Besides India, RBC Global Services also

KPMG Consulting Units in UK and Holland Are Sold

Atos Origin, the French IT services provider, today announced that it had agreed to purchase the KPMG Consulting operations in the UK and The Netherlands for Euros 657 million ($610 million). The two units currently employ 2,800 people and enjoy

JPMorgan Sells Japan Trust Bank to Soc Gen

Societe Generale has agreed to buy J.P. Morgan Chase & Co.'s trust bank in Japan. The renamed SG Private Banking (Japan) Ltd. will manage assets of about 300 billion yen ($2.4 billion). No price was disclosed. The French bank aims

JP Morgan Wins E.ON Energie Mandate in Germany

JPMorgan Investor Services announced today that it was appointed global custodian to E.ON Energie AG, part of the Munich based E.ON AG gas, water and electricity utility. JPMorgan will be responsible for global custody, securities lending, as well as mutual

Northern Trust Introduces Data Management Tool for Clients

Northern Trust today launched Global Investor Passport, a Web portal designed to provide institutional investors with access, analysis and monitoring of multiple sources of data impacting portfolios on a daily basis. "By utilizing an information centric approach and a portal

ING Cuts Last Ties With Fortis Bank

ING Group announced today that it had sold 35.5 million shares in Fortis, the Belgo Dutch financial group, at a price of EUR 22.75 per share in cash, generating gross proceeds of about EUR 808 million and a net (book)

State Street Expands Outsourcing Relationship With Seligman

State Street and New York based fund manager J. & W. Seligman announced today that they have signed a letter of intent to expand their existing relationship to include outsourcing of operations support for Seligman's $25 billion in assets under

Brazilian Government Nationalises Biggest Pension Fund

Reuters reports today that the Brazilian government has taken control of the largest pension fund in Brazil. The Pensions and Welfare Ministry announced that Previ the $15 billion pension fund for workers at the state owned Banco do Brasil will