In other news, Morgan Stanley shuffles execs, a carbon-trading exchange may emerge in Singapore, AccessFintech finds a CFO, and Bloomberg adds 100+ buy-side clients.
Northern Trust Enhances Recs Dashboard
Custodian bank Northern Trust has updated its Rec Dashboard workflow tool so that it helps clients with collaboration and scalability for real-time transparency into the reconciliations process, officials say.
The Rec Dashboard offers views of “breaks and reconciliations in trade activity between asset managers and other institutions,” officials say.
“Rec Dashboard is hosted within Omnium, a Northern Trust middle- and back-office technology platform for fund administration,” officials add.
The dashboard is used to help “collaboration between the manager and fund administration teams as breaks are reconciled” and offers Omnium users “data visualization capabilities and more direct views into reconciliations. The enhanced tool is available to asset managers globally who utilize the Omnium platform,” officials say.
“We are always seeking ways to better collaborate with clients, and Rec Dashboard allows us to work closely with them as our teams manage an essential daily process,” says Jeff Boyd, CEO of Northern Trust Hedge Fund Services, in a prepared statement.
Northern Trust Hedge Fund Services offers administration and middle office services for alternative fund managers and institutional investors with complex portfolios, officials say.
Morgan Stanley Names Co-Presidents, Other Execs
Ted Pick
Ted Pick and Andy Saperstein have been named co-presidents of Morgan Stanley, the investment banking giant reports.
Both men are “long-serving employees in key management positions,” the firm says in a prepared statement.
Pick, who heads Morgan Stanley’s institutional securities business, will now also “be responsible for Morgan Stanley’s international operations and become the co-head of firm strategy and execution,” per the statement.
Andy Saperstein
Saperstein, who heads Morgan Stanley’s wealth management business, will now “be responsible for all Wealth Management channels, including Financial Advisors, E*TRADE and Morgan Stanley at Work,” as well as the firm’s marketing globally.
Other Morgan Stanley appointments include:
- Dan Simkowitz, head of investment management, will in addition be co-head of firm strategy and execution with Pick, and will continue to report to James Gorman, Morgan Stanley’s chairman and CEO;
- Jonathan Pruzan, currently Morgan Stanley’s chief financial officer (CFO), will become chief operating officer (COO), U.S. banks, and corporate services;
- Sharon Yeshaya, currently head of investor relations, will replace Pruzan as CFO, reporting to both Pruzan and Gorman;
- Shelley O’Connor will become a vice chairman of Morgan Stanley and head of external a O’Connor will be responsible for community affairs, corporate affairs, global sustainable finance, and the multi-cultural client strategy group;
- Mike Pizzi, who joined Morgan Stanley with the acquisition of E*TRADE, will become head of U.S. banks and will report to Pruzan.
All of these appointments become effective on June 1, 2021.
Key Players to Form Carbon Credits Trading Exchange
Key players DBS Bank, the Singapore Exchange (SGX), Standard Chartered, and Temasek report their intention to develop a carbon exchange and marketplace that will be called Climate Impact X, the companies say in a joint, prepared statement.
Their intention is to launch a carbon exchange and global marketplace to provide corporates with “high-quality carbon credits to address hard-to-abate emissions,” per the statement.
Climate Impact X will be headquartered in Singapore and is meant to “leverage Singapore’s position as a leading international financial, legal and commodities hub,” per the statement.
Climate Impact X will also “leverage satellite monitoring, machine learning and blockchain technology to enhance the transparency, integrity and quality of carbon credits that deliver tangible and lasting environmental impact,” the firms say.
“Climate Impact X will provide a solution for corporates to address unavoidable carbon emissions in the near term and propel the development of new carbon credit projects worldwide,” Mikkel Larsen, interim CEO of Climate Impact X and chief sustainability officer at DBS, says in the statement.
AccessFintech Picks a CFO
Chris Bujakowski
AccessFintech, a Tel Aviv-based fintech company, reports the appointment of Chris Bujakowski as chief financial officer (CFO).
Bujakowski’s mandate includes supporting the growth of AccessFintech’s “collaboration solution,” which “extends and enriches data, synchronizes workflow and drives technology adoption, providing transaction lifecycle and benchmarking insights across the entire financial ecosystem,” according to the vendor’s statement.
He has more than 20 years of finance and operations experience in the technology sector, per the vendor. “His expertise is in enterprise B2B software as a service, building and scaling infrastructure to support multi-million-dollar recurring revenues.”
Prior to AccessFintech, he was CFO at cloud-based, core banking-platform provider Thought Machine.
Bloomberg Onboards 100+ Buy-Side Firms During Lockdown
From March 2020 to March 2021, Bloomberg onboarded “more than 100 clients globally” to its Buy-Side Solutions, including Lombard Odier Asset Management, Union Investment, Global X Japan, and Harvest Fund Management, officials say.
During that period, “all implementations were completed remotely due to COVID-19 lockdown restrictions,” according to Bloomberg. The client onboarding happened across the Americas, EMEA and APAC.
The market data terminal vendor’s Buy-Side Solutions set includes Asset & Investment Manager (AIM) order management system, and the PORT multi-asset portfolio and risk analytics solutions, officials say. The vendor also offers news, reference data, trading systems, and trading software.
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