News

State Street Completes Scottish Widows Deal Ahead of Schedule

State Street Corporation and Scottish Widows Investment Partnership (SWIP) announced that State Street completed the transfer and integration of Scottish Widows' investment administration operations in the fourth quarter of 2001, including 816 funds comprising life and pension funds and unit

Computershare Wins Two New Accounts

Computershare has been appointed to run the share registry and employee share plans of First Active plc, the Irish financial services provider, and the share registry of Millwall Holdings plc. First Active has the largest share register in Ireland, with

ABN AMRO Withdraws from Retail Banking in the Philippines

ABN AMRO has reached agreements to sell its consumer banking business in the Philippines to BPI Family Bank and Robinsons Savings Bank, a subsidiary of JG Summit Holdings. The sale is subject to the approvals of the Bangkok Sentral Pilipinas

Japanese Pension Fund to Up Overseas Allocation

News that the Japanese Government Pension Investment Fund asset to allocate a large chunk of its Yen 9 trillion ($70 billion) of assets to overseas securities in 2002 may be bad news for Yen bulls. But it is good news

CFO Ronald O'Kelley to Leave State Street

State Street Corporation announced today that Ronald L. O'Kelley, executive vice president and chief financial officer, has decided to leave the company for personal reasons. Stefan Gavell, executive vice president, will assume the role of CFO on an interim basis.

Money Managers to Reveal Transaction Costs

Zurich Scudder's Mutual Fund Business Moves to Chicago Zurich Scudder Investments plans to cut staff and move its U.S. mutual fund business from Boston to Chicago, according to Bloomberg. The report indicated that some account managers and support operations staff

EPN Grabs Higher Market Share

The Electronic Payments Network (EPN) announced that its market share of originated ACH (automated clearing house) payments has increased from five percent to twenty two percent during the last twelve months, and the total transaction volume originated and received by

Rabobank Selects Corona For Cash and Liquidity Management

SmartStream Technologies has announced that Rabobank, the largest Dutch bank, has selected Corona to enable real time reconciliations and processing of cash transactions. Rabobank went live with Corona at the end of 2001. A total of 60 users across five