News

ABN AMRO Mellon Wins Another UK Client

ABN AMRO Mellon has won the mandate to provide global custody to the pension fund of BBA Group PLC, the industrial group that services the aviation and industrial markets. The fund, worth 350 million ($508m), will convert to the alliance's

Reports On Italians’ Axing Withholding Tax – Inaccurate

According to local experts, reports that the Italian government was suspending withholding tax on coupon payments to foreign holders of BTPs were inaccurate. It seems reporters confused proposed reforms to the treatment of withholding taxes on equity dividends (which have

BoNY Appointed Stock Transfer Agent by AHP

The Bank of New York announced today that it has been appointed as stock transfer agent, registrar and dividend disbursing and reinvestment agent by American Home Products Corporation (AHP), effective November 5, 2001. This appointment is an extension of the

SecFinex Launches New Version of Trading System

SecFinex, the on line securities finance marketplace launched amid considerable scepticism among established intermedairies, says it is making real progress. Trading volumes, says SEcFione, are now averaging 300 transactions a day worth a total of 3 billion. The firm is

Bank of Tokyo Mitsubishi To Upgrade System For Custody Service

Bank of Tokyo Mitsubishi (BOTM), long a dominant force in Japanese custodybut which had a challenging year in 2001, announced on 19 November the launch of an enhanced, SWIFT ISO 15022 compliant yen custody system. From January, the bank will

Thomas Murray Joins Forces With Global Custodian

Thomas Murray, the research based information, ratings and consultancy group and Global Custodian, the leading trade publication in the securities services industry, have agreed to work together with the aim of creating the most comprehensive and robust analysis of the

LCH Announces Non-Executive Director Appointments

London Clearing House (LCH) appointed David Pritchard and David Robins as non executive directors of the company. They will join the Board with effect from 26 November 2001. David Pritchard is currently Group Director, Wholesale and International Banking at Lloyds

Fund Managers’ Profit Margins Fall Less Than Expected

PricewaterhouseCoopers has undertaken an interim update of its 2001 UK investment management survey to assess the industry's response to increased competition and the aftermath of 11 September. 21 firms with over 1000 billion under management participated in the interim update.

CSFB Names Hector Sants to New Post of CEO in Europe

Credit Suisse First Boston named Hector Sants to a newly created post of chief executive for Europe, a year after he joined as part of the firm's acquisition of Donaldson, Lufkin & Jenrette, Inc. CSFB appointed another DLJ veteran, Costas