Citigroup Global Transaction Services has announced that it has been selected as Custodian to Man Investments’ $7.8bn “style fund” structure. The style funds are one of Man’s principal Fund of hedge fund structures against which a significant amount of Man Investments’ alternative investment products are applied. The fund of hedge fund custody business is a natural extension for the alternative investment administration solution set, which was launched by Citigroup’s Fund Services in 2004 following the acquisition of Forum Financial at the end of 2003. Forum’s technology and products have been fully integrated into Citigroup Global Transaction Services’ standard systems, initially operating through Citigroup’s Portland, Maine and Bermuda facilities, and recently rolled out in the European marketplace through Citigroup’s operations centre in Dublin.
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.