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
Outsourcing is the classic sex in the fifth form topic everybody is talking about it, but virtually nobody is doing it. Now consultants Celent Communications have looked three fund managers which have actually done it PIMCO, Barclays Global Investor, and
The Dexia Group subsidiary Dexia Banque Internationale Luxembourg (Dexia BIL) has acquired a controlling interest in N.T. Butterfield Holdings (Bermuda) Limited from The Bank of N.T. Butterfield & Son Limited, Bermuda. The businesses acquired include Butterfield Trust (Hong Kong) Limited
BNP Paribas Asset Management says it has launched a fund of funds, Antin Selection Opportunities, in response to demand from private banking customers for absolute return funds.
By 2005, two out of three US and European banks will sell products manufactured by competitors . Or say say consultants Celent Communications, in a study of what they have dubbed "open finance." In a new report, "Open Finance in
EMX Co, the UK based electronic fund trading and message exchange, has come up with an ingenious solution to the chief obstacle to greater efficiency in mutual fund processing the fact that nobody wants to pay for improvements. To counter
Fortis Fund Services has launched a new service, NAVSecure, which enables fund managers and institutional investors to access reports, statements and fund information on line. NAVSecure subscribers are also able to access historical reports and statements, 24 hours a day,
BNP Paribas announced today that it had reached agreement in principle to sell its Banque Directe subsidiary to AXA. Approval of employee representatives and regulators is awaited. AXA sees Banque Directe as adding a banking platform to its product set
Shareholders of Bank Sarasin & Cie, a 161 year old Swiss private bank that caters to wealthy clients, have agreed the sale of a 28 percent stake to Rabobank. Agreement on the purchase was announced on March 4. The deal
The U.S. Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC), and the Jersey Financial Services Commission (FSC) jointly announced today the signing of a Memorandum of Understanding (MOU) Concerning Cooperation, Consultation and the Exchange of Information.