In other news, Northern Trust bolsters its capital markets crew, Allvue hires from Tibco, and Colastone launches APAC HQ.
Proxy Solution Supports New Shareholder Rights
Broadridge Financial Solutions reports that it has begun live operations of a “golden copy” event notification and direct vote execution service that is intended to streamline proxy voting in Denmark,
The service is the result of a collaboration between Broadridge and Danish central securities depositary Euronext Securities Copenhagen, and is targeting “global and domestic banks, custodians, wealth managers and local agents” that want to “transform operational efficiency throughout the proxy voting lifecycle in Denmark, while supporting their compliance obligations under the Shareholder Rights Directive (SRD II) and Denmark’s updated Companies Act,” officials say.
“It is our strategic priority to advance shareholder democracy and empower investors – institutional and retail – through the most efficient proxy voting ecosystem for both cross-border and local market participants,” says Demi Derem, GM, International Investor Communications Solutions at Broadridge, in a prepared statement.
The Denmark service is the latest addition to Broadridge’s Direct Market Solutions (DMS) product suite, which targets traditional sub-custody voting-related activities, officials say.
Northern Trust Makes Capital Markets Appointments
Custodian giant Northern Trust has made a series of appointments within its global capital markets business and has formed a capital markets client solutions group.
Within the capital markets institutional equity brokerage business:
- Glenn Poulter has have been named global head of integrated trading solutions (ITS), Northern Trust’s outsourced trading service. He will be based in London and report to Guy Gibson, global head of Northern Trust Capital Markets;
- Stephanie Farrell has been named head of integrated trading solutions – Americas. She will be based in Chicago;
- Amy Thorne has been named head of integrated trading solutions – Europe, Middle East and Africa (EMEA). She was most recently a senior relationship manager for ITS and will continue to be based in London.
Farrell and Thorne will report to Poulter. In addition, Jon Cherry will become head of brokerage – Americas. He was formerly the global head of options trading. He will be based in Chicago.
The capital markets client solutions group was created in response to increasing industry demand for “comprehensive, sophisticated outcome-oriented front-office transactional and optimization solutions,” according to an official announcement. “The unit will bring together brokerage, securities finance, foreign exchange, and other Capital Markets capabilities to address the challenges faced by asset managers and asset owners as they navigate changing economic and regulatory environments.”
For the new unit:
- Gerard Walshhas been appointed global head of client solutions for Capital Markets. Walsh who was most recently head of ITS – EMEA. He will report to Gibson and will be based in London;
- Grant Johnsey will head of client solutions for Capital Markets in the Americas, a newly created position. He will be based in Chicago.
“These changes and leadership appointments position our business to better serve our clients’ need for comprehensive tailored solutions that best address their business challenges,” Gibson says via the announcement. “This is a reflection of our ongoing investment in capital markets expertise and technology, alongside our inherent strengths.” — L.Ch
Allvue Systems Taps Tibco for New CEO
Allvue Systems, which characterizes itself as an “alternative investment technology solutions provider,” reports that Dan Streetman has joined as chief executive officer (CEO).
Streetman will “lead Allvue’s culture, strategy, operations, and aggressive expansion plans,” according to a statement, which also notes that he will be “working alongside” the executive leadership team.
Most recently, Streetman was CEO at Tibco Software Inc., where his portfolio included “enhancing Tibco’s cloud-native product portfolio, strategy, and financial performance,” officials say.
“The alternatives markets are more crowded and volatile than ever, and investment firms need innovative technology solutions to stay on top of their portfolios and ahead of the competition,” Streetman says in the statement.
Allvue was formed in the fall of 2019, and now serves more than 400 clients, per the statement.
As CEO, Streetman will continue this expansion by focusing on driving growth, scale, and a modern approach to delivering industry-leading products and a superior customer experience.
Dan Streetman
Streetman is a “tested and proven CEO who leads with humility and care for his people. He guided Tibco through a critical transformation as it delivered data solutions to some of business and society’s most pressing challenges, against the backdrop of a global pandemic,” Robert F. Smith, founder, chairman and CEO of Vista Equity Partners, says in the statement.
The Allvue executive group also includes Andrew Skehel, chief operating officer; Ryan Keough, chief revenue officer; Sha Farley, chief human resource officer; Yuriy Shterk, chief product officer; Brandon Meeks, chief technical officer; Deb Mason, chief legal officer; Susan Wohleking, chief marketing officer; and Robert Gatto, chief of staff.
Allvue, based in Miami, FL, provides cloud-based “technology for investment managers in the private capital and credit markets industry.” — L.Ch
Calastone Launches APAC HQ in Singapore
Calastone, which characterizes itself as the “largest global funds network,” reports the opening of its regional headquarters in Singapore. Ross Fox, managing director for APAC has relocated to Singapore from Sydney.
In Sydney, Fox was responsible for managing Calastone’s Australia business, according to a statement. Fox has been with Calastone since 2012, per the firm.
In the Asia-Pacific region APAC, “the fund management industry is projected to outpace any other region globally, with assets under management (AUM) to hit S$41.1 trillion in 2025,” the vendor adds. “As one of the region’s key financial hubs, Singapore stands to capitalize on APAC’s strong growth fundamentals, with an estimated S$21 billion of funds transacted just in the first quarter of 2022. However, sustaining such high levels of growth does not come without its challenges. Industry analysis shows that margins across the globe will shrink from 31.6% in 2021 to 28.5% in 2025, with higher levels of AUM resulting in more operating costs.”
Calastone is headquartered in London and has offices in Luxembourg, Hong Kong, Taipei, Singapore, New York, Milan, and Sydney, per the statement. — L.Ch
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