Insight Investment, the fund management arm of UK banking group HBOS, has consolidated its fund accounting, depositary and custody arrangements with the Bank of New York. The appointment covers assets worth 8 billion invested in both UK and European mutual
Brown Brothers Harriman (BBH) says Abbey the former UK bank Abbey National, which recently rebranded itself as part of its efforts to escape its difficulties has gone live with Infomediary, BBH's outsourcing solution. Abbey is using the messaging capabilities of
The Investment Company Institute has expressed support for the SEC's proposal to require broker dealers to provide mutual fund investors with a new confirmation and point of sale disclosure document. The SEC proposal would require the disclosure of details about
BISYS says that Jose Suquet has resigned as Group President of BISYS' Insurance and Education Services Group to return to "a senior executive role with a major insurance carrier or other financial institution." Russell Fradin, BISYS's President and CEO, will
State Street subsidiary the WM Company says that active investment management strategies outperformed passive strategies in the UK retail market last year. But taken over a longer period the research is based on the 20 year performance of the trusts
Putnam Investments' top lawyer, who knew about improper trades at the firm before regulators began probing it, will leave the troubled asset manager later this month, the company said on Monday. Putnam's board of trustees found last month that Putnam's
PIMCO says its Dublin based PIMCO Funds Global Investors Series plc GlS) have secured regulatory approval for distribution in the United Kingdom, Switzerland, Italy, France, Spain, and Germany, with approvals ending in Austria and Luxembourg. The funds were launched in
PIMCO, one of the world's largest fixed income management companies, said its Dublin based PIMCO Funds Global Investors Series PLC has been given regulatory approval for distribution in six European countries United Kingdom, Switzerland, Italy, France, Spain, and Germany. Approvals
JPMorgan Investor Services (JPMIS) says Royal London Asset Management (RLAM) has agreed to outsource to the bank all the fund accounting activities for its unit trusts. Joe Rondinelli, head of Fund Servicing Sales at JPMIS, said he was pleased with
Investment Company Institute Chairman Paul Haaga testified before the Senate Banking Committee this week, calling for strong sanctions to be levied on firms who abuse mutual fund trading. He also said that an objective appraisal should be made concerning the