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Hedge fund managers cite cost and quality for moves
25 February 2014 London
Reporter: Mark Dugdale

Hedge fund managers are changing their service providers, particularly administrators and prime brokers, because of low-quality service and cost, a survey has found...

TMF Group takes over Custom House
17 February 2014 Malta
Reporter: Georgina Lavers

TMF Group has acquired 49 percent and become the sole owner of Custom House Global Fund Services. The transaction is subject to regulatory clearance, but is expected to be completed by June 2014...

A good year for State Street
27 January 2014 London
Reporter: Daniel Jackson

State Street’s chairman has said that its results for 2014 show that the business remains strong despite the difficult financial climate...

McGovern leaves Citi for BBH
21 January 2014 New York
Reporter: Georgina Lavers

Michael McGovern has left Citi for Brown Brothers Harriman (BBH), as managing director, CIO and head of systems at the firm...

Phoenix's UK business shows strength
14 January 2014 London
Reporter: Georgina Lavers

Phoenix Fund Services’ UK authorised funds business has grown more than 160 percent in 2013, with PFS in the UK now administering assets of £2.3 billion...

First Names goes Christmas shopping
18 December 2013 Luxembourg
Reporter: Georgina Lavers

The trust, fund and corporate service provider First Names Group has purchased Citadel Services PSF Sàrl in Luxembourg—its third acquisition of the year...

BNY Mellon capitalises on CLO recovery
18 December 2013 London
Reporter: Georgina Lavers

BNY Mellon has been appointed trustee and portfolio administrator on Avoca Capital CLO X Limited, a €311 million collateralised loan obligation (CLO)...

LOST: $68 million in unclaimed shares and dividends. Contact SGX for details
27 November 2013 Singapore
Reporter: Georgina Lavers

Singapore Exchange (SGX) wants to locate 89,000 investors who own $68.3 million in unclaimed shares and dividends...

Luxembourg authorises first Renminbi fund under UCITS
15 November 2013 Luxembourg
Reporter: Georgina Lavers

The Luxembourg regulator CSSF has authorised the first Renminbi Qualified Foreign Institutional Investor (RQFII) fund under the Undertakings for Collective Investment in Transferable Securities (UCITS) scheme...

AIMA nabs Inglis from Barclays
11 November 2013 London
Reporter: Georgina Lavers

Prime brokerage veteran Jack Inglis has been nabbed from Barclays to head up the Alternative Investment Management Association (AIMA) as its new CEO...

CGD Securities picks SunGard to grow Brazil business
30 October 2013 São Paulo, Brazil
Reporter: Daniel Jackson

CGD Securities, a Brazilian division of Portugese-based bank Caixa Geral de Depósitos, has selected SunGard’s hosted Valdi solution to help grow the firm’s business...

Complacency threatens to rock reconciliation
24 October 2013 London
Reporter: Georgina Lavers

Industry-wide complacency and unsystematic monitoring are hampering efforts to achieve smarter operational efficiency for optimising enterprise reconciliation, said a new survey...