of the Year
in France. SGSS’s fund administration operating model is based on a pan-European IT platform. This platform is already live in France, Ireland and Luxembourg. The platform is fully compliant with legal requirements and is also interfaced with SGSS’s custody offering, its transfer agency function, and the firm’s asset servicing product.
|Click on the play button on the left to watch a video of the award presentation.|
2007 saw BNP Paribas Securities Services – which won this category last year – successfully complete one of the largest ever UK fund management migrations, which resulted from the acquisition of part of Deutsche Asset Management by Aberdeen Asset Management. The company took on board 637 funds representing e52bn in assets under administration. In Luxembourg, the company completed the country’s largest ever outsourcing transaction by bringing on board the fund administration and investment compliance activities of ING. This yielded 300 funds and e40bn under administration. RBC Dexia
RBC Dexia plays to its strengths, the judges noted. One of the firm’s main strengths is in client servicing, which has earned it a tremendous reputation in this field. Another judge also commended the firm for its approach to technology, saying RBC Dexia is at the forefront of administration in Europe in this regard. The firm has invested heavily in its expansion. Said one judge: “Perhaps over the next year we will really see that expansion pay off.” Northern Trust
Northern Trust increased its assets under administration in its European locations by 40% in 2007, to reach $224bn. This reflected a combination of new wins from headline fund groups and new fund launches from existing clients. Judges were particularly impressed with Northern Trust’s cross-border pooled vehicle offering, in which the firm has doubled its assets under administration over the past twelve months.