SEB has become the second bank to select the trade repository for securities lending reporting, after Societe Generale signed up to the service in February.
SEB will use the Regional Custodian workflow which utilises ALERT for storing SSI data related to fund assets in custody.
The move will enable FundRock to expand its fund services to Nordic asset managers, taking on SEB Fund Services’ 20 employees.
Ann Magnusson rejoins SEB nine years after she left the Nordic bank for Northern Trust.
The aim of the project is to increase efficiencies in processing purchases and sales of fund units.
Annika Falkengren will leave bank to work for asset manager Lombard Odier.