Asset servicing

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  1. 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.

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  1. 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.

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  2. 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.

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  3. 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.

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  4. Cantor Fitzgerald starting transition management unit

    trueCantor Fitzgerald on Monday announced it's creating a transition management business.

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  5. 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.

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  6. 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.

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  7. 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.

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  8. 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.

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  9. Carlyle takes stake in fund administration firm Conifer Financial Services

    trueThe Carlyle Group will acquire a majority stake in asset services firm Conifer Financial Services, in a deal expected to close in the second quarter.

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  10. John Heathcoat pension fund selects Punter Southall for actuarial, investment services

    trueJohn Heathcoat Pension Scheme hired Punter Southall to provide actuarial, administration, risk and investment services.

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  11. New Hampshire 457 plan scouting for provider

    trueNew Hampshire Public Employees Deferred Compensation Plan is searching for a bundled provider for the $277 million 457 plan.

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  12. Berkeley Police/Fire Employees on lookout for custodian

    trueBerkeley (Mo.) Police/Fire Employees Retirement System is searching for a custodian.

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  13. Loss of market makers may lead to buy-and-hold strategies

    trueCorporate fixed-income investing is becoming a buy-and-hold market, as the reduction of traditional market makers and the resulting loss in inventory make active trading strategies more risky.

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