Consolidation in the corporate trust business took a further step forward today with news that the Bank of New York has signed a definitive agreement to acquire Ohio based Fifth Third Bank's business. The transaction involves the acquisition of approximately
The WM Company has apointed Michael Walsh as its new Managing Director. Walsh replaces Peter Adams, who has assumed a role at State Street Corporation as head of its pension fund servicing team. A qualified accountant, Walsh joins The WM
The Securities and Exchange Commission yesterday announced the filing of a civil injunctive action in the United States District Court for the Eastern District of Pennsylvania against Gary L. Pilgrim, of Malvern, Pa., Harold J. Baxter, of Berwyn, Pa., and
BISYS has launched LinkinSight, a Web based tool designed to providesconvenient online access to its retirement related products, for both plan sponsors and third party administrators (TPAs) and financial advisors. It enables plan sponsors to access relevant plan and participant
The Malaysian Securities Commission (SC) has given companies which have yet to meet the minimum paid capital requirements of the Kuala Lumpur Stock Exchange (KLSE) another six months to comply. They will now have until end June 2004. Companies which
Saghar Bigwood has joined tax specialists GOAL from Citigroup as Director of Product and Business Development. The company is now extending its cross border tax reclaim services, and looking to offer automated tax products. Bigwood, who was with Bank of
Bank of New York has been appointed custodian and securities lending agent to Montpelier Re Holdings, for approximately $1.8 billion of invested assets. "After a thorough evaluation process, we selected The Bank of New York based on their commitment to
The BISYS Group, an acqisitio hungry group which has suffered from a weak share price, is launching a buy back programme to purchase up to $100 million of its outstanding stock. A previous programme saw BISYS purchase approximately 3.5 million
MarketAxess, the Internet based trading platform for credit products, and Charles River Development, a provider of order management systems, have formed a strategic alliance to increase electronic connectivity in the global credit markets. MarketAxess' strategic pairing with Charles River responds
SunGard Securities Processing says that Credit Lyonnais Securities (USA) Inc. has gone live on its Margin Advisor tool for monitoring credit exposures and performing real time margin calculations for its institutional equities operations. SunGard says Margin Advisor provides real time