All industry news

Through the ranks

30 June 2010 Toronto
Reporter:

Rob Ferguson, vice president, product and client service, global securities lending, and Robert Chiuch, vice president, head of trading, global securities lending, will share cross-functional responsibilities in replacing James Slater.

Citi snaps up David Martocci

30 June 2010 New York
Reporter:

David Martocci has been appointed managing director and global product manager of third party securities lending at Citi Global Transaction Services

Sebi eases reporting requirement for FIIs

29 June 2010 Press Trust of India
Reporter:

Market regulator SEBI today relaxed the reporting requirement on lending of securities by FIIs for the purpose of short selling. FIIs now have to disclose the information on a weekly basis instead of daily.

Wells Fargo and another law suit

29 June 2010 Sarasota
Reporter:

A USD40 million lawsuit has been filed by Sarasota County against Wells Fargo Bank, alleging improper investment advice with regard to the county's securities lending portfolio prior to the market crash in 2008. The case number is 2010 CA 006579NC.

BNY Mellon wins Goldman Sachs mandate

28 June 2010 New York
Reporter:

BNY Mellon has been chosen by Goldman Sachs International (GSI) to provide a segregated sub-custody service to GSI's prime brokerage clients through Montague Place Custody Services (MPCS).

Slater appointed COO at BNY Mellon Asset Servicing

28 June 2010 Pittsburgh
Reporter:

BNY Mellon Asset Servicing has appointed James Slater to the newly created role of managing director and chief operating officer for Global Securities Lending. Slater will report to Kathy Rulong, executive director of Global Securities Lending

Pershing study changing model of securities lending

28 June 2010 Jersey City
Reporter:

Pershing LLC, recently announced the availability of an independent study, Lending and Leverage: The New Securities Finance Model for Hedge Funds, which examines the changing business model of securities financing for hedge funds in 2010 and beyond

ING Launches synthetic prime brokerage

28 June 2010 London
Reporter:

ING's Global Securities Finance (GSF) team has hired Colin Bugler to head its new Synthetic Portfolio Solutions (SPS) team, reporting to Richard Pryce, Head of Equity Lending & Repo.

New Clearing Options for Nordic Markets

28 June 2010 Stockholm
Reporter:

NASDAQ OMX and J.P. Morgan have announced that J. P. Morgan has become NASDAQ OMX Stockholm AB's first non-Nordic custodian for the NASDAQ OMX Derivatives Markets. As custodian, J.P. Morgan will provide collateral management...

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