Amundi US selects BNY Mellon for custody and fund services
Mandate follows agreement in January to integrate Amundi’s portfolio management system into BNY Mellon’s front-to-back technology infrastructure.
Mandate follows agreement in January to integrate Amundi’s portfolio management system into BNY Mellon’s front-to-back technology infrastructure.
The license follows FAB’s recent agreement to acquire Bank Audi Egypt, which included its local custody business.
The hire is the second former State Street executive to join Citi’s securities services sales team after it a recruited new head of APAC sales this week.
BNY Mellon said it plans to offer its new digital assets custody and administration services later this year.
Reappointment represents €3.5 billion in assets under custody and builds on BNP Paribas’ revenues increase from 2020.
The hire for Citi follows a number of recently announced milestones in the APAC region for its securities services business.
State Street's CFO said the custodian would have to generate new business wins of amounting to $1.5 trillion in AUC to achieve growth.
The deal will see U.S. Bank take on 600 client relationships representing around $320 billion in assets under custody and administration.
Short selling and margin financing volumes by offshore investors in China are set to take off following the new relaxation measures last month.
Axxion’s has transferred nine of its open-ended special alternative investment funds (AIFs) to CACEIS in Germany.