PFPC Inc., a full-service mutual-fund transfer agent, announced it has been chosen by Columbia Management Group to provide fund-accounting, transfer-agency and sub-administrative services for its Galaxy Funds, as well as fund accounting for its common trust funds pursuant to new five year contracts. PFPC Trust Company has also been named custodian of the Galaxy Funds.
Omgeo, a provider of trade-management services announced that Deutsche BankGlobal Fund Services (DB GFS), became the first Asian fund administrator to centrally match cross-border trades live on Omgeo Central Trade Manager (Omgeo CTM) on behalf of its client, who is an investment manager in the region. By using Omgeo CTM, outsourcers like DB GFS hope to benefit from an automated process, which allows them to receive trade instructions earlier in the trade cycle, centrally match trades to broker confirmation and send settlement notification messages to custodians via SWIFT.
Also, Omgeo announced that it has expanded its Americas and global-product leadership team. Scot Knight, currently executive director, global product management, has been named managing director of the Americas region. In addition, James Casey will expand his current role of managing director, global marketing to managing director, global product management and marketing. Bob Nicholson will take on the role of chief knowledge officer for Omgeo.