Fund administrator SS&C Technologies Holdings says it is buying Citigroup's Alternative Investor Services business, which includes Hedge Fund Services and Private Equity Fund Services, for around $425 million (the exact price is subject to certain adjustments).

Bill Stone, SS&C chairman and chief executive officer, says the acquisition is solidly in line with the company's strategy of combining organic growth with select, high quality acquisitions. Citi Alternative Investor Services clients can be assured of SS&C's commitment to continue to serve them with world class people, process and technology, he pledges.

The transaction is subject to approvals by relevant regulatory authorities and other customary closing conditions and is expected to close in the first quarter of 2016.

Northern Trust has announced a series of appointments within its global capital markets business.

BNY Mellon says it has enhanced its foreign exchange payment capabilities.

CACEIS has been appointed by the Advenis Investment Managers management company (the entity previously known as Avenir Finance Investment Managers) to provide account-keeping/custody and depositary services for its entire fund range. 

Northern Trust has appointed Douglas Gee as head of sales for its asset servicing business. It says the move is to continue to drive sales momentum for its business across Europe, Middle East and Africa (EMEA).

Northern Trust has won a mandate from Muscat Capital, the Saudi Arabia-based investment banking arm of Bank Muscat, the largest commercial bank in Oman. 

The International Securities Services Association has adopted a set of Financial Crime Compliance Principles. The aim, it says, is to support the efforts of the global community of securities custodians and intermediaries to address the critical challenges posed by financial crime (he Principles can be downloaded from the ISSA website).