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Northern Trust, Bank of Taiwan to team up on global custody offering in Taiwan
trueNorthern Trust and Taipei-based Bank of Taiwan will collaborate in offering institutional investors in Taiwan asset servicing and global custody services.
University of Maryland Foundation goes with Northern Trust as custodian
trueUniversity of Maryland System Foundation hired Northern Trust as custodian.
Illinois Student Assistance Commission seeks custodian for 529 plan
truellinois Student Assistance Commission, Springfield, is searching for a custodian on behalf of the $1.1 billion College Illinois Trust Fund, the state’s prepaid tuition program.
Illinois State Board picks Deutsche Bank for securities lending
trueIllinois State Board of Investment hired Deutsche Bank to provide securities lending services for both U.S. and international securities.
QIC taps Northern Trust as global custodian for its Australian fund offerings
trueQIC, a Brisbane-based money manager with A$70.8 billion ($55.4 billion) in assets under management, hired Northern Trust to provide global custody, fund accounting, taxation and associated services for QIC's Australian fund offerings.
Illinois Municipal picks transition managers
trueIllinois Municipal Retirement Fund selected BlackRock, Loop Capital Markets, Northern Trust, Penserra Capital Management, Russell Investments and State Street to be placed on a list of transition managers to be chosen on a case-by-case basis.
UniSuper taps BNP Paribas as new custodian
trueUniSuper hired BNP Paribas Securities Services as master custodian for the A$50 billion ($38.8 billion) superannuation fund.
Transition managers answer call for sophistication
trueTransition managers are adding new capabilities to transfer assets in complex derivatives, futures and options, along with traditional transfers of securities.
Maitland acquires U.K. fund administrator Phoenix Fund Services
trueMaitland, an advisory, fund administration and fiduciary services firm, acquired U.K.-based fund administrator Phoenix Fund Services, marking its entry into the U.K. fund administration market.
BNY Mellon settles with U.K.'s Financial Conduct Authority on custody rule violations
trueBank of New York Mellon will pay £126 million ($188 million) in a settlement with the U.K.'s Financial Conduct Authority for violations of the agency's custody rules regarding the custodian's records.
Cantor Fitzgerald starting transition management unit
trueCantor Fitzgerald on Monday announced it's creating a transition management business.
Japan's GPIF hires Nomura, BlackRock and Russell to handle transitions
trueJapan’s Government Pension Investment Fund hired Nomura Asset Management, BlackRock Japan and Russell Investments Japan as transition managers.
WSP Parsons Brinckerhoff selects Mercer to provide actuarial services for 7 plans
trueWSP Parsons Brinckerhoff, London, hired Mercer to provide actuarial services to its seven U.K. retirement plans.
Nunavut Trust signs Northern Trust as global custodian
trueNunavut Trust hired Northern Trust as global custodian for the trust's C$1.6 billion ($1.27 billion) in assets.
Access to liquidity key concern for equity traders, survey finds
trueEighty-four percent of institutional equity traders are either “concerned” or “very concerned” about sourcing liquidity in the current market, according to a Liquidnet survey.