The Bank of New York announced that Ian Headon has joined the bank as group manager for alternative investment services in Dublin. Mr. Headon will have overall responsibility for providing administrative and operational solutions to European-based hedge-fund managers. Prior to joining the bank, Mr. Headon was with PFPC International where he was head of hedge-fund accounting and administration in Dublin. His role with PFPC included both operational management and business development for the European markets.
Swift announced that Eritrea is the 200th country to join its community. The government-owned Commercial Bank of Eritrea is connecting to SWIFTNet services as part of its strategy to modernize its banking system. Ten years ago, 100 countries and 3,986 live users from the financial-services industry were connected to Swift. Today, Swift connects 200 countries and 7,500 financial institutions.
The Northern Trust Company announced the City of Regina, Saskatchewan, Canada has selected Northern Trust Canada to provide custody, performance measurement, and securities lending for five city plans totaling CAD$783 million in assets. This engagement applies to the Civic, Police, and Long-Term Disability plans, as well as the General Revenue Fund and General Trust Fund for the City of Regina.