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Kingswood U.S. Accelerates Expansion of Successful In-house Investment Banking Group with Appointment of Four New Members

Retrieved on:

Monday, April 1, 2024

Wheaton College, Nomura Securities, Partner (business rank), Business, Acquisition, Columbia University, University, Head, Evercore, Investment banking, Capital market, International finance, Vice, Citco, UBS, RBC Capital Markets, Security (finance)

NEW YORK, April 1, 2024 /PRNewswire/ -- Kingswood U.S., part of a network of independent wealth management firms that oversees more than $14 billion in client assets globally, today announced the appointment of four new members to its Investment Banking team. Braden Ferrari has been brought on as Head of Institutional Sales, David Braccia and Evan Wynn join as Vice Presidents, Capital Markets and Jacob Wilson has been named a Vice Presidents, Investment Banking.

Key Points:

The significant expansion of the Kingswood Investments team follows the strategic buildout of the firm's in-house investment banking capabilities over the past few years and illustrates the firm's commitment to this successful and growing business.
The Kingswood U.S. investment banking group provides access to capital to mid-market businesses undergoing varying degrees of operational, financial or market-driven change.
Braden Ferrari has over 20 years of corporate finance and investment banking experience, advising C-level executives and the boards of directors at public companies.
The Kingswood Investment Banking team is comprised of senior professionals with an average of more than 20 years in investment banking, located in New York, Florida and Texas.

Europe the cheapest region for entity management in 2023

Retrieved on:

Wednesday, December 13, 2023

Professional Services, Technology, Other Professional Services, Other Technology, Finance, Software, Record, EPM, Growth, LATAM, MEA, Audit, Cryptocurrency, Asset management, Mercator, Citco

Europe retained the top spot as the cheapest region for multinationals to operate entities in this year amid greater disparity globally, with the digitalization drive playing out at different speeds around the world.

Key Points:

Europe retained the top spot as the cheapest region for multinationals to operate entities in this year amid greater disparity globally, with the digitalization drive playing out at different speeds around the world.
According to data compiled by Entity Portfolio Management (EPM) leader Mercator® by Citco (Mercator) in its annual Mercator Entity Management Report 2023 , combined global average costs for multinationals to complete entity-related activities reduced by 4% in 2023.
For the second year running, Europe ranked as the lowest cost region for multinationals to operate in, driven by the ongoing implementation of the EU Digitalization Directive and a highly competitive legal service market.
To read the full report please visit: https://mercator.net/mem-report-2023/
The Mercator Entity Management Report 2023 is part of Mercator’s Entity Portfolio Management Series , providing direct insight on the cost and time to manage a global portfolio of entities, based on real-life data.

France ranks in top fifth globally as location for multinationals’ legal entities

Retrieved on:

Thursday, October 26, 2023

France is ranked in the top 20% of jurisdictions globally as an attractive location for multinationals to base legal entities, according to data compiled by Entity Portfolio Management (EPM) leader Mercator® by Citco (Mercator) , in its France EPM: Special Report .

Key Points:

France is ranked in the top 20% of jurisdictions globally as an attractive location for multinationals to base legal entities, according to data compiled by Entity Portfolio Management (EPM) leader Mercator® by Citco (Mercator) , in its France EPM: Special Report .
However, the data reveals the country is 4% more expensive for multinationals to operate in compared to the global average.
In comparison to higher-ranking jurisdictions, France requires physical paper filings and a local presence.
In the lack of a so-called real beneficiary, it is possible to report the management of the company as legal representative(s).

Citco to Establish Puerto Rico as a Global Investment Support Base

Retrieved on:

Tuesday, June 20, 2023

Professional Services, Business, Finance, Treasury, Senior, Education, Puerto Rico Department of Economic Development and Commerce, NAV, Nationwide Asset Services, Administration, Economic development, Growth, AUA, News, Commerce, Airline, Operation, Citco

The Citco group of companies (Citco), a global leader in alternative finance, has chosen Mayagüez as its latest base for a client support center – the first of its kind on the west coast, which will help to establish Puerto Rico as a talent-base for institutional financial companies.

Key Points:

The Citco group of companies (Citco), a global leader in alternative finance, has chosen Mayagüez as its latest base for a client support center – the first of its kind on the west coast, which will help to establish Puerto Rico as a talent-base for institutional financial companies.
Working closely with Invest Puerto Rico (InvestPR) and the Department of Economic Development and Commerce (DEDC), Citco has chosen Puerto Rico as its latest base due to its broad availability of educated professionals in the financial sector.
The Mayagüez office is undergoing renovations and will be led by Colin Johnson, Senior Vice President of Operations, Citco (Puerto Rico), LLC, who has been with Citco for over 13 years.
Puerto Rico is proud to partner with Citco as they move forward with their plans on the island and expand their world-class operations to Puerto Rico.”

Cash Is King: Treasury Values Surge to $418B in Q1 According to Citco

Retrieved on:

Thursday, May 11, 2023

According to Citco’s Q1 2023 Middle Office Solutions Report , the value of treasury transactions not only increased by 25% quarter-on-quarter, but the volume of securities-based margin movements also soared by 66% in Q1 - as managers looked to post securities rather than cash as collateral, leaving cash to work as an alpha-generating tool.

Key Points:

According to Citco’s Q1 2023 Middle Office Solutions Report , the value of treasury transactions not only increased by 25% quarter-on-quarter, but the volume of securities-based margin movements also soared by 66% in Q1 - as managers looked to post securities rather than cash as collateral, leaving cash to work as an alpha-generating tool.
Cash margin is still relevant, but only increased by 10% in Q1 as securities took a larger portion, while we saw a slight increase of 14% in overall margin calls.
The Middle Office Solutions Report contains data on overall trade volumes, values and collateral calls for Q1 2023.
All transaction types are included from tax payments to loan funding, transaction costs, cash collateral and OTC settlements, among others.

Citco Opens Permanent Office for Center of Excellence Team in Hyderabad

Retrieved on:

Tuesday, April 18, 2023

Professional Services, Business, Finance, Fintech, Asset Management, Banking, Knowledge, Treasury, COE, NAV, Information technology, Ministry of Industry, Commerce and Supplies (Nepal), Center of excellence, Growth, Principal, Commerce, Film industry, HITEC City, Citco

After the successful launch of Citco’s Center of Excellence (CoE) in Hyderabad in September 2021 – whereby the team was based in a temporary incubation office in HITEC City – Citco has moved to a new permanent facility in the Opel Building, located in Salarpuria Sattva Knowledge City, to cater to its ongoing expansion in the region.

Key Points:

After the successful launch of Citco’s Center of Excellence (CoE) in Hyderabad in September 2021 – whereby the team was based in a temporary incubation office in HITEC City – Citco has moved to a new permanent facility in the Opel Building, located in Salarpuria Sattva Knowledge City, to cater to its ongoing expansion in the region.
The growing team also strengthens the resources of Citco’s operations across Asia, helping to support Citco’s other locations in the region which include Pune and Mumbai.
Jay Peller, Head of Fund Services, Citco Fund Services (USA) Inc., said: “After the move to Hyderabad nearly two years ago, we are delighted that the construction of our new Center of Excellence is now complete.
The state of the art office will ensure we are well-positioned to support the growth of Citco not simply in the region, but also globally.

Jay Martin Joins U.S. Bank as President, Global Fund Services

Retrieved on:

Monday, April 10, 2023

Personal Finance, Finance, Banking, Professional Services, Asset Management, Multimedia, U.S. Bancorp, GFS, Citigroup, Bowdoin College, Citco, Bank, Martin, BNY Mellon, Investment, Economics, Cryptocurrency, Operation

U.S. Bank announced today that veteran securities services executive Jay Martin has joined the bank as president, Global Fund Services (GFS).

Key Points:

U.S. Bank announced today that veteran securities services executive Jay Martin has joined the bank as president, Global Fund Services (GFS).
View the full release here: https://www.businesswire.com/news/home/20230410005278/en/
Jay Martin, President, U.S. Bank Global Fund Services (Photo: Business Wire)
As president, Martin will lead a global team that combines industry-leading technology with high-quality customer service to offer customized product solutions for alternative investments, mutual funds and exchange-traded products.
Martin will be part of the senior leadership team for U.S. Bank’s Wealth Management and Investment Services’ division.
Prior to working at Citco, Martin was at Citi for eight years, where he held several senior positions, including president, Citi Fund Services and head of Fund Services Operations.

UK Ranking as Base for Multinational Legal Entities Drops as International Competition Catches Up

Retrieved on:

Monday, March 13, 2023

Finance, Consulting, Professional Services, Small Business, Legal, Record, COVID, Citco, EPM, Mercator, Companies House, Cryptocurrency, Insurance

This leaves the UK in a worse position comparatively, falling from the 14th fastest country for completing corporate activities in 2021, to 26th in 2022.

Key Points:

This leaves the UK in a worse position comparatively, falling from the 14th fastest country for completing corporate activities in 2021, to 26th in 2022.
However the UK remains one of the most cost-effective jurisdictions to set up entities, rising from the 19th cheapest country in 2021 to 14th in 2022.
Overall, the data shows the UK is 36% cheaper and still 40% faster than the combined average of all other 170 jurisdictions worldwide.
“Legal services in the UK are well established and often externalized which also further increases demand and in turn the supply.

NAV Facilities Gain Momentum Among Alternatives Funds

Retrieved on:

Tuesday, February 28, 2023

Professional Services, Finance, Safety, Pitch book, COVID-19, Insurance, Risk, Citco, Net asset value, Investment, Sale, NAV, Security (finance), Financial services, Growth

A NAV facility is most often a loan – extended by banks, insurance companies and specialty private lenders – to an alternative investment fund that is secured by the fund’s investments, which collectively comprise its NAV.

Key Points:

A NAV facility is most often a loan – extended by banks, insurance companies and specialty private lenders – to an alternative investment fund that is secured by the fund’s investments, which collectively comprise its NAV.
These investments may consist of private equity, venture capital, infrastructure, credit, real estate or holdings in other investment funds.
Unlike leveraged loans, high-yield bonds or residential mortgages, NAV facilities enjoyed favorable credit outcomes during the crisis, with minimal defaults and losses.
An alternative use of a NAV loan is when institutional investors seek incremental leverage on their Limited Partnership (LP) holdings in alternative funds.

Ultimus Names Former SEI Exec James Cass as President of Ultimus LeverPoint Private Fund Solutions

Retrieved on:

Wednesday, February 1, 2023

Investment, SEI Investments Company, Acquisition, BNY Mellon, SS, ULP, UMB, FD, SEI, FDFA, Management, Cass, Ultimus, Citco

CINCINNATI and CLIFTON PARK, N.Y., Feb. 01, 2023 (GLOBE NEWSWIRE) -- Ultimus Fund Solutions® (Ultimus®), a leading independent provider of full-service administration, fund accounting, middle office, and investor solutions to traditional and alternative investment managers, announced today James Cass will head up Ultimus LeverPoint Private Fund Solutions.

Key Points:

CINCINNATI and CLIFTON PARK, N.Y., Feb. 01, 2023 (GLOBE NEWSWIRE) -- Ultimus Fund Solutions® (Ultimus®), a leading independent provider of full-service administration, fund accounting, middle office, and investor solutions to traditional and alternative investment managers, announced today James Cass will head up Ultimus LeverPoint Private Fund Solutions.
Cass, who recently led SEI Investments’ alternative investments fund administration group, has assumed the role of president of Ultimus LeverPoint (ULP) effective today.
As president of ULP, Cass will focus on maintaining the firm’s service culture, strengthening client relationships, and leading the strategy for the firm’s private fund administration business.
Thomas DiEgidio, who became president of ULP as part of Ultimus’ acquisition of FD Fund Administration in 2021, is transitioning into a client relationship advisory role with the firm.