The launch of the outsourcing trading service for asset owners and asset managers made Northern Trust the first custodian to take on certain buy-side trading functions.
International Fund Services and Asset Management makes move to insource to offer custody services to its institutional clients.
Report from fund administrator Vista shows that the majority of real estate asset managers and sovereign wealth funds aren't outsourcing.
New private equity mandate marks another deal win for PEF Services in a busy year.
The appointment rounds off the global restructuring of HSBC's securities services leadership, following the appointment of two new global co-heads for the business.
The move is the latest effort by custodians to expand into the front-office; however, Northern Trust is the first to take on certain trading activities for asset managers.
CrossWise was launched earlier this year for asset managers to optimise their operating model by combining its front and back-office services.
HSBC's former head of Americas securities services has relocated to London to focus on its banks and broker-dealer clients.
Middle-office outsourcing has been highlighted as one of the most preferred methods to cut costs at asset management firms