FinTech iCapital to acquire alternative investment platform from Wells Fargo
Wells Fargo will join a growing a list of coveted investors which include some of the biggest custodians, investment banks, and buy-side firms.
Fund Administration
CIBC Mellon wins $1 billion ETF servicing mandate from CI Financial
CIBC Mellon will provide custody and fund accounting services to 14 CI WisdomTree ETFs with $1 billion in assets under management (AuM).
Clearstream to use alts FinTech to automate funds trade docs
The Luxembourg-based CSD will use Finomial’s technology to automate trade documentation completion for funds in alternative assets.
Clearstream appointed by UK broker for third-party fund processing
As of May 2020, Clearstream held €2.5 trillion in investment funds under custody on behalf of its clients, an increase of 39% over the past five years.
U.S. Bank picks up key middle-office mandate from Carlyle Group
The dual mandate expands U.S. Bank’s current service offering with Carlyle, which manages more than $25 billion in CLOs domestically and in Europe.
MFEX continues expansion with new Hong Kong office
Fund distribution platform aims to serve distributors and asset managers based in Hong Kong, Taiwan, Korea and Japan from the new setup.
Fidelity appoints State Street as ETF servicing agent for new semi-transparent ETF
Fidelity is the first asset manager to receive regulatory approval for three semi-transparent ETF products using its own proprietary proxy basket methodology.
Arcesium files anti-competitive lawsuit against SS&C Technologies
The lawsuit relates to an agreement the two firms have had since 2015 where Arcesium was been able to license SS&C Advent’s Geneva software, but was then terminated.
Custody
Mass arrival of semi-transparent ETFs presents new opportunities for custodians
With some of the world's largest ETF issuers launching new semi-transparent products, custodians and fund administrators are in a unique opportunity to bridge the gap between the active and passive investment community.
Apex continues Americas expansion with new head of corporate solutions
US expansion continues for Apex as it follows up new launches with appointment of head of corporate solutions.