Calastone, a funds transaction network, has named Cristóbal Conde chairman of its board, effective immediately. Conde, who last year joined the Calastone board as a non-executive director, and is an investor in the privately held business, will work alongside Julien Hammerson, the company’s CEO, according to a statement. Calastone offers its Global Transaction Network to… Read More >>
SS&C Announces Fund Services Promotions
SS&C Technologies, a provider of financial services software and software-enabled services, has promoted Renee Mooney to lead SS&C GlobeOp’s private equity fund administration business, officials say. Mooney, a senior vice president and nine-year SS&C veteran, will have the support of Christine Egbert, Aparna Parmeswaran, Phil Ratner and Chris Madpak, officials add. Darren Berkowicz, managing director,… Read More >>
PIMCO’s Meyn: Better Recs Can Prevent Wrecks
Optimal reconciliation and exception management can catch early on many signs of fraud, rogue trading and other nightmares that have rocked the financial services industry in recent years and should be treated as such, says Cynthia Meyn, executive vice president of operations at Pacific Investment Management Co. (PIMCO), a bond investment giant based in Newport… Read More >>
NorthPoint’s Head of Sales Joins Gresham
Reconciliation technology vendor Gresham Computing has hired Shaleen Dastur from NorthPoint Solutions and appointed her senior sales executive, responsible for the sales of Gresham’s Clareti Transaction Control (CTC) system in North America, Gresham officials confirm. Dastur, who joined the London-based Gresham in July 2014, has a decade of financial services industry experience in selling software… Read More >>
Prime Brokers and Custodians Bury the Hatchet
Following a rocky courtship just after the financial crisis, prime brokers and custodian banks have now settled into a comfortable – if not quite loving – marriage of convenience as both sides aim to please hedge fund clients, sources say. “In the beginning, there was definitely a lot of competition between the custodian banks and… Read More >>
Macquarie Futures to Use Cloud-Based Recs
Macquarie Futures, a futures commission merchant of Australian financial services firm Macquarie Group, will be deploying a reconciliation system from Gresham Computing, the Clareti Transaction Control (CTC) solution via an Amazon Web Services (AWS) public cloud computing deployment, officials say. The Amazon cloud will deliver the automated reconciliation and exception management services of CTC to… Read More >>
SEI, SmartStream to Build Recs Utility
SEI, an asset manager and financial technology provider, will be collaborating with post-trade systems and services vendor SmartStream Technologies to build a reconciliations utility that will help SEI better serve wealth management clients with cash, transactions and securities positions from a single reconciliation platform, report SmartStream officials. As part of the effort to create the… Read More >>
Recs Technology Hits Its Stride in Europe
Virginie O’Shea, a senior analyst for market research firm Aite Group, answers FTF News’ questions about the rise in global spending on reconciliation technology, which is particularly acute in the U.K. and throughout Europe. Aite’s latest report, “Reconciliation Technology Solutions in 2014: Recs Get Ready to Rumble” finds the percentage of reconciliation clients on a… Read More >>
T+2 Switch May Need Regulatory Help
Post-trade services utility DTCC has stepped up its efforts to move the industry to a shorter, T+2 settlement cycle for U.S. equities, corporate and municipal bonds and unit investment trust (UIT) trades. Neil Henderson, the DTCC’s managing director of clearing, is helping lead the charge and took a few minutes to answer FTF News’ questions…. Read More >>
Demand Soars for Recs IT as SIFMA Pushes LEI Usage
Reconciliation Technology ‘Explosion’ in Europe & U.S., Says Aite No longer is reconciliation technology “solely applied” to reconciling cash accounts. That’s the word from market research firm Aite Group’s latest report, “Reconciliation Technology Solutions in 2014: Recs Get Ready to Rumble,” which also takes note of the “explosion in the number of different vendor solutions… Read More >>
