RBC head of service delivery delivered unto State Street

State Street Investor Services (State Street IS) has hired the former head of service delivery at RBC Dexia Investors Services to a senior sales role.

Jason Rich will report to Chris Field, head of sales and marketing for State Street IS, in a role responsible for cultivating new business across all market sectors – investment managers, super funds and alternative managers such as hedge funds. Rich was at RBC Dexia IS for five years, where he was most recently head of the service delivery team – managing all the day to day operations which serviced RBC’s investment manager client base. Prior to this, Rich worked as RBC’s senior client services manager where he oversaw the cornerstone Perpetual Investments relationship. Rich is replacing Greg O’Sullivan, who has transferred to State Street Global Markets to head up the global account development function in Australia. Reporting to general manager Ian Martin, O’Sullivan will have responsibility for the regional distribution of State Street Associates’ suite of currency management capabilities.

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Canada establishes new SWF amidst global push for nation-building investment

Canada has established its first national-level sovereign wealth fund with a seed of C$25 billion to underwrite “nation-building” projects like ports, mines and energy infrastructure. In an unusual funding mechanism, the fund will issue a retail product that will allow individual investors to invest with the SWF and “participate in Canada’s growth”.

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