Citco opens Abu Dhabi headquarters in ADGM after 400% increase in MENA assets
New offices set up by fund services provider after enormous growth sees its assets in MENA hit $125 billion.
January 14, 2021 12:08 PM GMT
Fund administrator Citco has opened an office in Abu Dhabi Global Market (ADGM) after increasing its assets under administration (AUA) in the region last year by 400% to approximately $125 billion.
Citco said its decision to establish a base in ADGM follows a marked rise in calls for asset servicing, administration, banking and governance services from sovereign wealth funds and managers in the Middle East and North Africa (MENA) region last year.
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Global Custodian’s most read stories of 2020 Part Two: Big custody moves dominate
Part two of our most read stories of the past 12 months on Global Custodian includes some big moves from BNY Mellon, State Street and Northern Trust and a fund administration acquisition.
December 31, 2020 10:00 AM GMT
In part one of our most read stories of 2020, we had an overview of BlackRock’s moves during the year through its Aladdin platform, a major regulatory delay, a promotion at JP Morgan and launches from HSBC and State Street. Today we bring you the top five most read from the year, with some big custody moves, a fund administration acquisition and a major people move to top it all off.
Global Custodian’s most read stories of 2020 Part One: BlackRock, CSDR and a rising star
The first look at some of the most read stories of the past 12 months on Global Custodian.
Unsurprisingly, COVID-19 has dominated many of
Global Custodian’s headlines this year. The operational strain and the mass shift to remote working as a result of the pandemic provided us with plenty of editorial content, whether it was around the monumental increase in settlement failures, delays to key post-trade regulations, or rising outsourcing demands from buy-side firms. But while the theme dominated in terms of the quantity of stories, our most-read articles mostly focused on new product launches, people moves and regulatory shifts.
Private capital CFOs gear up for data demands
A joint survey by Intertrust Group and Global Custodian has found CFOs of private capital funds will have to adapt to changing data demands from investors.
December 23, 2020 12:02 PM GMT
A survey underway by Intertrust Group and Global Custodian has so far revealed that over the next few years, chief financial officers (CFOs) expect their limited partner (LP) clients to require data updates with increasing frequency. In particular, just under 40% of respondents expect their investors to be looking for access to live updates on portfolio performance and 30% on cyber-security.
At the same time, 40% of participants are expecting a need for daily updates on operational SLAs and 35% on environmental, social and governance (ESG) – updates that private capital funds will not necessarily be in a position to provide without further investment in functionality and resources.