BNP Paribas and JPMorgan Chase announced today that they have reached a definitive agreement for BNP Paribas Espana S.A. to acquire the Spanish asset management and private banking businesses of the former Chase Manhattan Bank, now J.P. Morgan Bank S.A.
State Street confirmed today that it has agreed to acquire International Fund Services (IFS), the hedge fund accounting and administration business headed by CEO Jim Kelly. The announcement, long expected, follows the example set by BISYS in buying Hemisphere and
Citigroup Global Securities Services announced today that it has been appointed the global custodian and fund administrator for more than $30 billion of mutual fund assets managed by Pioneer Global Asset Management, the US fund manager owned by Unicreddito Italiano.
Schroders has signed an agreement with International Financial Data Services (IFDS), the joint venture between State Street and DST, to outsource its UK based authorised unit trust administration. IFDS will offer a full outsourced administration service for Schroders' UK institutional
Mutual funds retained a 21 percent share of the $10.9 trillion U.S. retirement market in 2001 with $2.3 trillion in assets held in retirement accounts, according to new research released today by the Investment Company Institute, the national association of
State Street announced today that it had broken ground on the construction of the second building on the site of the new State Street Financial Center Europe, located at 49 avenue J.F. Kennedy in Luxembourg's Kirchberg business district. Adjacent to
Former JP Morgan subsidiary RiskMetrics Group today launched "Best and Worst" Fund Evaluations, a free assessment of equity mutual funds, designed to bring a greater level of transparency to the mutual fund market. The risk adjusted fund evaluations take account
Those involved in the banking and brokerage industry already know that the initial wireless hype has not resulted in widespread adoption by financial institutions and customers. Celent research published today shows that not only have usage and spending rates peaked,
European Fund Administration (EFA) announced today that life assurer Foyer International had chosen the Luxembourg based fund administrator and transfer agent as valuation and accounting agent for the unit linked funds which underpin its life assurance contracts. EFA will also
Citibank Global Securities Services announced today that AXA Investment Managers has expanded its relationship with the bank to include acting as Depository Bank and Administrator for their Luxembourg funds. Citibank already administers AXA World Funds I, and will now be