President Trump Declares “National Emergency” Due To Coronavirus Pandemic

first_imgPhoto: The White House / D. Myles Cullen / CDCWASHINGTON – President Trump declared a “national emergency” on Friday due to the Coronavirus pandemic.The President said the action would “open up access to up to $50 billion,” which he described as “a large amount of money for states and territories and localities in our shared fight against this disease.”Trump also urged states to set up emergency operation centers immediately. Share:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to email this to a friend (Opens in new window)last_img read more

​ATP picks BNY Mellon to replace Northern Trust as global custodian

first_imgDenmark’s statutory pension fund giant ATP has selected BNY Mellon as its new global custodian, replacing the current mandate holder Northern Trust.The appointment follows a public tender process the pension fund started in December last year.BNY Mellon said it had been appointed by ATP, which runs Denmark’s labour market supplementary pension scheme, to provide custody, trade support and collateral management services for the pension providers’ $100bn (€89bn) of assets.Kenneth Hallum Knudsen, senior vice president of business support at ATP, said: “ATP wants strong and competitive partners, which is why – from several competent bids – we have chosen BNY Mellon as global custodian based on both quality, services and price. “With this new agreement we get a fair financial saving combined with even better solutions and services,” he added.BNY Mellon described the public procurement process as having been “very focussed and detailed”.The contract will start in October, after the end of the ATP’s current custody agreement with US financial services firm Northern Trust — which it selected for the position in 2013 — and will last four years, with a possible renewal of up to two years.ATP said BNY Mellon currently manages $34.5tn under custody and administration with $1.8trn in assets under management, providing investment management services in 35 countries.last_img read more