Mandate extends BNY Mellon’s relationship with the Dutch-based investment firm as it continues to grow its European business.
In just over a year, the team has grown by over 70% to cater to the expanding client base within RBS International Depositary Services.
The new launch will strengthen Alter Domus’ offering for existing clients seeking to domicile alternative investment funds in Ireland.
The mandates adds to a growing list of Soc Gen’s depositary and fund administration business wins across Europe.
The new Depotbank service will be led by Marco Wiegmann, who joined Northern Trust in September after 10 years spent with RBC I&TS.
The completed acquisition follows in line with BNP Paribas Securities Services’ strategy to develop its network in targeted markets in Europe and globally.
New appointment reflects a commitment to the UK funds market for CACEIS and its shareholders, Credit Agricole and Santander.
KLAR Partners closed its debut fund last month at a hard cap of €600 million, one of the largest European first-time funds raised in the last 10 years.
State Street’s Luxembourg branch will take on the activities previously carried out by its subsidiary Fideuram Bank Luxembourg, accounting for approximately €42 billion of assets.
Depositary will become part of the JTC group which also consists of the recently acquired NES Financial.