September 2008

CUSTODY 2008: BBH View from the Top

mcnamee.jpgCiaran McNamee

senior vice president
Brown Brothers Harriman

Challenges for custodians in the past year have included:

  • Planning for increased volumes of complex asset types and new instruments;
  • Expanding our Fund Solutions offering for institutional investors and meeting the demand for alternative fund products.
As a result, Brown Brothers Harriman has set up a ‘derivatives centre of excellence’ and has significantly developed its real estate servicing capabilities to meet growing demand. Subsequently, we are servicing Real Estate Investment Funds (Reifs) with gross assets of approximately $35bn (£19bn), in 91 different regulated (Sicaf, Sicav, FCP & Sicar) and unregulated structures (SCA, Sarl, LP, SA) for both open- and closed-ended funds. BBH services vehicles are domiciled in Ireland, Bermuda, Grand Cayman, the UK and the US.

      Challenges expected in the year ahead include:

    •  Further developing our fund solutions capabilities and increasing assistance in distribution support;
    • increased automation and reporting with regard to derivatives.

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