Northern Trust has launched a new Statement of Recommended Practice (SORP) reporting solution to help institutional clients navigate new UK reporting requirements. 

Northern Trust says the solution is designed to support UK and Irish pension schemes in adhering to new SORP guidelines, which are effective for accounting periods starting on or after January 1, requiring schemes to make disclosures about investment risk and fair values, including changes to the way annuities are valued. 

Northern Trust says the package provides clients with information needed to support the fair valuation and exposure disclosures and includes new customisable reports designed to ease the burden of information gathering and provide clients with fair valuation reporting as well as reports which provide market and counterparty exposure analysis.

HSBC says it has become the first custodian bank in China to service a Renminbi Qualified Foreign Institutional Investor (RQFII) based in Switzerland, the latest in a long line of firsts it has claimed in China. 

CACEIS reports that independent management company Twenty First Capital has selected it to be the asset servicing partner for its first Luxembourg UCITS fund. 

MUFG Investor Services, the global asset servicing group of Mitsubishi UFJ Financial Group, is to buy the UBS Global Asset Management Alternative Fund Services (AFS) business.

Deutsche Bank has been chosen by Symphony Financial Partners to provide fund administration services for the newly launched SFP Japan Special Opportunities Fund.

Australia's Brambles Limited has appointed Deutsche Bank as depositary bank for its non-capital raising sponsored Level I American Depositary Receipt programme.

Adam Gelder has joined BNY Mellon as head of financial institutions for its corporate trust team in Europe, the Middle East and Africa (EMEA).