ICFA online

A lifelong passion

In the first of a new series, ICFA talks to veterans of the custody and fund administration business. Nadine Chakar of BNY Mellon reflects on changing times after two decades in the industry and talks exclusively to Sophia Morrell about her new role following the company’s latest acquisition.

Growing market

Amid the recent credit woes emerging from Dubai, the United Arab Emirates securities services profession has exploited the full opportunity of the safekeeping role of custodians. A developing regulatory environment is spurring on providers to sprawl further across the region. Melanie White reports.

Survival of the fittest

Consolidation and competition continue to be key drivers for the German securities services business. Melanie White reports on an increasingly hostile landscape for domestic players in the industry.

Automatic transition

Automation is the latest buzzword of the fund industry and it is becoming a reality now that budgets for technological investment are returning. Sophia Morrell finds out why there is currently such an impetus and where the challenges will lie as the industry is weaned off faxes.

Increasing liability

Proposed legislation in the European Union (EU) is proving contentious as moves to reduce systemic risk could have the opposite effect. Sophia Morrell and Joanne Harris look at the potential impact for depositaries globally. Additional reporting by Melanie White.

Tough terrain

'Challenging' was a common description of the Nordic market from company leaders last year and 2010 is shaping up as an even tougher prospect. Melanie White reports on how the introduction of central counterparty clearing and the progression of T2S are squeezing smaller players.

Under pressure

Newly stringent demands from investors and reglators have seen a wholesale uptick in independent derivatives valuation with an increase in both scale and rigour. What are the new demands and how can administrators integrate them into their business? Sophia Morrell reports

Up beat

The Brazilian asset servicing industry continues to move to the beat of a resilient economy, while changes in the regulatory environment are also creating optimism among company leaders. Melanie White reports

Not giving up

The Turkish custody profession remained resilient in 2009 despite increasing strains on the general economy. MELANIE WHITE discovers how stable performance levels, as well as developing players in the market, could mean steady growth in 2010.

Taking control

Managed accounts are entering the spotlight as the transparency and liquidity they can offer continue to arouse interest. But investors may find there is more to the structure than the obvious benefits. MELANIE WHITE reports

Life force

Beyone its regulatory framework, Bermuda's major strength is its reputation as a centre of expertise for hedge fund administration. The jurisdction has a long history in this business. KRIS DEVASABAI reports

Development in the desert

The Middle East is a region rich with oil and opportunity. Joanne Harris finds out how securities service providers are exploiting the region's potential.

Tools of the trade

The demand for more sophisticated risk analytics is driving product development initiatives at the large US custody banks. KRIS DEVASABAI reports

The Goldilocks Agent

Is big better or is small beautiful? Or indeed, when it comes to agent banks and regional sub-custodians, are investors actually looking for a Goldilocks in a bear market? Not too big to be out of touch and not too small to handle the business but just right to get the perfect mix of market knowledge and high-end support services. SEAN FLYNN and PETER MCCREADY report.

Changing perceptions

Staying ahead of teh game, most effectively explains why and how the Channel Islands have become leading international finance centres, ROB KINGSBURY reports

Neither a borrower nor a lender be

Securities lending took a knock last year. But as Joanne Harris discovers, the industry stood up to the crisis and has emerged stronger on the other side.

The ICFA Alternatives Legal Panel 2009

After equities crashed and burned, alternatives are making a strong comeback. ICFA asked two experts to examine the legal challenges and other themes this sector is experiencing.

Global Custody Survey 2009

Transparency and the new paradign - Custodians have this year been reping the benefits of a flight to quality investment in the wake of the global crisis consolidation continues as a key industry trend, writes Sean Flynn.

Raising questions

As a parting gift, the Irish internal market commissioner Charlie McCreevy has presented his fellow countrymen in the Irish funds industry with a conundrum of how to assess the impact of the proposed new Alternative Investment Fund Managers Directive (AIFMD). Declan O'Sullivan writes

Modern Greece

Despite a tough year following the fallout from the financial crisis the Greek market is starting to pick up. David Adams reports

The cutting edge

Pension funds in the Netherlands have lost about 15% of their assets under management since the onset of the financial crisis. David Adams examines how the industry is responding

Gateway to Africa

Emerging yet sophisticated, South Africa could be the ideal investment destination for those on that 'flight to quality'. Sean Flynn reports

It's mini-prime time

As the prime brokerage heavyweights are forced to reassess their business models, so called mini-primes specialising in servicing small and mid-sized hedge funds are booming. Kris Devasabai reports

Banking sector ready for recovery

The financial services sector underwent a complete restructering following Turkey's own crisis in 2001. The country can now use the lessons learned to weather the current storm and is well placed for the turnaround. By Peter McCready

Derivatives head for clearing

After the collapse of Lehman Brothers and the bailout of AIG, financial service regulators are searching for a way to bring over-the-counter derivatives onto exchanges. Top of the list are actions aimed at credit default swaps. Kris Devasabai reports

Growing stronger

Despite the trials and tribulations of 2008, unprecedented falls in assets under administration and a general contraction of the hedge fund industry, Cayman Islands fund administrators are positive about the future. Margie Lindsay looks at some of the challenges facing the industry

Delivering the goods

David Adams explores the issues to be considered when selecting an agent bank in the current market

Strategic rethink

US Editor Kris Devasabai looks at the prospects and challenges facing Canada

Flight to quality

Luxembourg is the second largest fund centre in the world after the US. Its open-minded regulator, fund-friendly legislation and regulation and developed cross-border distribution makes it a leader in Europe. Jamie Wynn-Williams reports.

Innovation pays

Luxembourg's resilience while all around economies are struggling lends itself to its ability to attract asset managers at a time when confidence in risk management is imperative, writes Deborah Benn.

The cutting edge

Fundamental changes in the European securities and investment funds industry landscape have created the need for a new generation of technology solutions, writes Mike Foley.

Made to measure

The buy-side must embrace a flexible system infrastructure in order to meet the challenges of processing OTC derivatives, writes Ian Mainwaring.

A new model

Hedge funds are reassessing the prime brokerage model in the wake of the financial crisis, creating opportunities for new players to step into the business, writes Kris Devasabai.

Testing times

Securities lending found itself in the spotlight as regulators sought to rein in short selling following the collapse of Lehman Brothers. Emma Oakman reports on the impact of recent events

New world order

The giants of the global custody industry have weathered the financial storm better than most. Nick Sudbury reports on how US custodians are adapting to the new world order.

Automatic for the people

Financial institutions have been chasing the holy grail of STP for more than a decade. Here, MARK CORIATY reviews the latest moves towards process automation in the buy-side.

Changing lanes

Changing client needs have highlighted the need for scale and diversification in the offshore hedge fund administration business, writes Kris Devasabai.

Information overload

Reliance on manually collected data could scupper drives towards enterprise data management in the financial services industry, writes Ashley Smith.

A new breed

The once troubled investment operations outsourcing business is undergoing an evolution. ICFA reports on future prospects in a changed market.

At the crossroads

With the structured product industry falling under ever sharper focus, Philippe Rozental analyses the valuation and servicing needs of these products in changing markets

Always the sun

The Greek securities market has already enjoyed an eventful 2008 with the promise of more exciting sectoral development to come. Jason Conway reports

Trading places

The rapid development of alternative European trading platforms is driving major change and creating new opportunities for service providers. KRIS DEVASABAI reports

East of Eden

The enthusiasm surrounding the Beijing Olympics reflects growing global financial confidence in an emerging superpower. KRIS DEVASABAI reports

The ghost in the machine

Growing risk management concerns are fuelling serious new interest in data management strategies and solutions. KRIS DEVASABAI reports

Time for action

After the turmoil of the recent credit crunch the latest annual Fund Forum hits Barcelona in June - with delegates keen to establish which way the investment business will move next. JASON CONWAY reports

Rising stars

In a special report, Kris Devasabai profiles five hedge fund administrators, each launched within the past 18 months, with the potential to make a real impact in the years ahead

Safety in numbers

Despite a recent wave of global market uncertainty, the private equity sector continues to offer rich prospects for committed fund administrators. Jason Conway reports

The enigma variations

Rapid growth in the use of OTC derivatives within the asset management industry is creating a raft of new complications in the middle and back office. KRIS DEVASABAI reports

Forward as one

European pensions pooling has enjoyed mixed success to date. But, as Kris Devasabai reports, the concept appears set to gain fresh momentum in light of recent developments

Come together

The growing convergence of traditional and alternative asset management styles is creating a new range of challenges and opportunities for the investment and asset servicing industries, writes Kris Devasabai

The heat is on

The booming alternative investment business is driving major new competition between offshore jurisdictions. But the threat of external political interference remains a clear and present danger writes, KRIS DEVASABAI

Back in the USA

Boston welcomes the annual SWIFT backed SIBOS exhibition and conference this year. And, despite an unsettling period of market turbulence, the stage looks set for an extremely positive and thought provoking five day event. JASON CONWAY reports

Firm foundations

With the hedge fund industry under increasing public scrutiny, Kris Devasabai spoke with fund manager Highland Financial Holdings Group about its commitment to strengthen valuation and risk management procedures

New horizons

As the battle for supremacy between hedge fund servicing jurisdictions hots up, Jason Conway reports on the prospects facing the key centres competing for business in an ever more complex global environment

At the crossroads

Despite its undoubted growth, the hedge fund industry has faced mixed fortunes within the past 12 months. Here, Jason Conway reports on the likely road ahead for a market facing significant new threats and opportunites

Firm foundations

With the hedge fund industry under increasing public scrutiny, Kris Devasabai spoke with fund manager Highland Financial Holdings about its commitment to strengthen valuation and risk management procedures

The name of the game

For global custodians operating in ever more competitive international markets, good client relationship management is a vital ingredient in business success. Kris Devasabai reports

Loan stars

The rapidly growing securities lending market is getting to grips with automation and third party service models, writes Kris Devasabai

Great expectations

The global market for third party fund administration services is delivering a raft of new business prospects to international service providers. Jason Conway reports

Golden years

A decade on from the launch of ICFA Magazine, editor Jason Conway reviews some major landmarks in the ever changing global asset servicing business

Top 50 custody mandates 2006

ICFA's exclusive annual custody mandate ranking and analysis provides an insight into the deals that defined 2006

Playing the game

Broker/dealers require world class back office support to thrive. Here, Kris Devasabai examines the work of service providers in this demanding sector

The name of the game

Transfer agency is a critical part of the retail fund servicing offering. But what lies ahead in this increasingly competitive sector? Jason Conway reports

Return to lender

Growing acceptance of securities lending has brought fresh opportunities and challenges to a range of services providers, writes Kris Devasabai

News of the world

Foreign exchange trading is an exciting area requiring world class back office support. Here, Kris Devasabai analyses the complex and challenging work of forex service providers

Border patrol

Market infrastructure consolidation in Europe continues to spark heated debate among industry participants. Kris Devasabai analyses efforts to drive market reform

Poll position

Growing corporate governance concerns have sharpened the focus on proxy voting services from both investing institutions and their custodians, writes Jason Conway

A different class

The global prime brokerage market has welcomed a number of new entrants in recent years. Here, Jason Conway reports on the opportunities and challenges facing the current crop of industry players

FEATURE