Asset servicing

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  1. Kansas PERS hires State Street as custodian, terminates 2 PIMCO investments

    trueKansas Public Employees Retirement System hired State Street Bank as custodian, committed to a private equity fund and terminated Pacific Investment Management Co. for performance and senior management personnel changes.

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  1. Custody banks report gains from year-earlier figures; State Street tops in size

    trueState Street Corp. edged above Bank of New York Mellon Corp. as the largest custody bank in terms of assets, with a slight increase in assets under custody and related revenue in the third quarter, while BNY Mellon, J.P. Morgan Chase and Northern Trust all saw slight decreases in both categories.

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  2. eVestment countersues Compass iTech

    trueeVestment filed a countersuit against Compass iTech, alleging the company illegally entered the eVestment database on several occasions and stole restricted data for its own commercial gain.

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  3. Towers Watson launches non-profit think tank to improve investment industry

    trueTowers Watson is launching a global, non-profit think tank comprising asset owners, investment managers and other services providers that will focus on improving the investment industry for end savers.

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  4. Northern Trust names head of new representative office in Seoul

    trueByun Jai Yung was appointed chief representative of Northern Trust’s newly opened representative office in Seoul.

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  5. Florida SBA nears decisions on brokerage, collateral management searches

    trueFlorida State Board of Administration, Tallahassee, is considering five firms in its search for prime brokerage services: Citigroup, Deutsche Bank, New Edge, Bank of America Merrill Lynch and Bank of New York Mellon unit Pershing LLC.

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  6. Market share increasing for largest FX dealers — report

    trueThe five largest foreign-exchange dealers by market share handled more than half of all FX trades in 2013, and more volume will head to those dealers in the future, said a Greenwich Associates report issued Thursday.

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  7. LACERS readies custodian search; earmarks $35 million to venture capital

    trueLos Angeles City Employees' Retirement System approved issuing an RFP for a firm to provide custodial and securities lending services, minutes from a recent meeting show.

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  8. Chicago Police pension fund on lookout for transition managers

    trueChicago Policemen's Annuity & Benefit Fund is searching for one or more transition managers

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  9. Apex Fund Services picks new CEO

    trueWilliam Salus was named CEO of alternative fund administrator Apex Fund Services.

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  10. Minnesota State Board of Investment searches for transition manager

    trueMinnesota State Board of Investment plans to look for a transition manager.

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  11. Questions over dark pools prompt changes in best execution

    trueRecent investigations into dark pools and high-frequency trading are causing institutional investors to reconsider just what constitutes best execution — and how to measure it. And the pressure to convey that to asset owners is falling on money managers and investment consultants.

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  12. CalSTRS picks firms for securities lending, cash collateral management

    trueCalSTRS intends to award contracts to several firms to provide securities lending and cash collateral management services for its equity portfolio.

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  13. Ann Arbor Employees chooses Russell for transition management

    trueAnn Arbor (Mich.) Employees' Retirement System hired Russell Investments to handle the transition of $56 million in actively managed core fixed-income assets from terminated manager Bradford & Marzec.

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