Switzerland’s Bank Julius Baer has awarded ABN AMRO a continuous linked settlement (CLS) third party services mandate following a tender process. Gérard Berclaz, Senior Vice President of Bank Julius Baer, said: ‘This decision is based not only on the need to find a provider that will offer a complete service and is committed to a strong partnership in this area, but also on the fact that ABN AMRO had put the right deal team together, which underlined their commitment to Bank Julius Baer’. ABN AMRO was a founding shareholder of the CLS initiative in 1997. In October 2002, it was approved as a first wave Settlement Member of CLS Bank, following authorisation from the Board of Governors of the US Federal Reserve System. CLS Bank went live offering third party processing late November last year.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.