Equiniti selects Allfunds Bank as custodian
Equiniti, a specialist in technology, finance and administrative services, has selected Allfunds Bank as its fund custodian in an appointment that will see its UK & global funds services supported by the leading global platform service for Institutional clients.
The Allfunds Bank service will provide core specialist fund dealing, settlement, reconciliation and sub-custodian services to Equiniti in order to simplify the amount of in-house processing with the net effect of reducing costs and significantly increasing administrative efficiency.
Stephen Mohan, head of Allfunds Bank UK & Ireland, said: “Our global service is all-encompassing, meaning that we are able to reduce risk as well as increase processing efficiencies through our fully automated system. Equiniti is one of a growing number of leading firms that recognises our commitment and expertise within an increasingly global market.”
The use of our core services along with the growing requirements by our clients to make use of our value add services of funds research and selection tools to support their increasingly global approach to funds has seen our UK client base continue to grow significantly.
“We not only provide the core requirements for a fully automated funds solution but we also support our clients in ensuring they stay at the forefront of a continuingly evolving market in which appropriate funds selection and adherence to regulatory requirements are key.
Mark Taylor, managing director of Equiniti Investment Services, said: “Our decision to use Allfunds was driven by the capacity Allfunds has to operate at a global level, something which is increasingly important to our clients. As an organisation there was also a cultural fit. The company’s progressive and innovative approach aligns well with our own technology-led focus to deliver superior client solutions.”