Intertrust to launch new Irish fund administration business
To lead the business, Kevin Doyle has been appointed head of fund administration for Intertrust Fund Services Ireland.
To lead the business, Kevin Doyle has been appointed head of fund administration for Intertrust Fund Services Ireland.
Ireland has become a key focus for Northern Trust after it opened its second office in the country in 2017, and has since grown the employee base to 1,500.
The approval will allow European-based clients to continue trading on the platform without the interruption of the UK’s exit from the EU.
The custodian will also provide depositary, clearing and foreign exchange solutions for Pacific Asset Management's UCITS funds.
The agreement between ESMA and the Bank of England eases concerns of significant disruption to the Irish securities market.
Euronext would no longer be able to settle Irish securities at Euroclear’s London-based CREST once the UK leaves the European Union.
The regulatory approvals come ahead of Apex Fund Services planned acquisition of Ipes, expected to close at the end of the third quarter.
DTCC is the latest post-trade market infrastructure planning to move its European operations from London to Ireland.
EuroCCP will act as sole CCP for Euronext Dublin following its migration to the exchange group’s new cash markets trading platform Optiq.
The moves follow the recent appointment of James Nolan as group head of strategy and merger and acquisition.