MUFG Investor Services, a global leader in asset servicing, banking, and fund financing for the alternative investment management industry, announced plans to expand its banking solutions to address global client demand for payment and cash management services. To support this strategic direction, Adil Rehman has been appointed Managing Director, Global Head of Payments and Liquidity, to lead the development and growth of these services.
In addition to bank accounts, liquidity solutions and escrow services, the expanded banking solutions will include foreign exchange payments, wire transfers and local automated clearing house (ACH) payments. The services will support the facilitation of payments for financial institutions and their management companies, regional banks looking to expand their currency and payment reach for clients, treasury technology providers, fund administrators and other aggregators (e.g., corporate services firms).
Also Read: Adyen expands in-person payment solutions with Tap to Pay on Android
Adil Rehman brings 18 years of experience in transactional banking and foreign exchange services. Most recently, as International Head of Transaction Banking at Goldman Sachs, he was responsible for the global expansion of the Transaction Bank, with oversight of cash management, foreign exchange and payment business lines. Prior to that he served in senior-level roles at Deutsche Bank, responsible for passive currency overlay and derivatives trading.
“The expansion of our banking services is a testament to MUFG Investor Services’ commitment to creating synergistic opportunities to unlock exceptional value for our clients,” said John Sergides, Chief Executive Officer of MUFG Investor Services. “Especially today, as firms navigate turbulence in the banking sector, it’s critical for them to have stable, reliable, banking partners with strong credit positions to help mitigate risks. We are pleased to welcome Adil, a seasoned banking expert with deep knowledge in transaction banking, payments, and currency overlay, as he builds our banking ecosystem for clients.”
As a division of Mitsubishi UFJ Financial Group, Inc., one of the world’s largest banks with approximately $3.2 trillion in assets, MUFG Investor Services leverages a wide array of banking experts, products, and services to provide scalable and flexible solutions across the investment value chain.
SOURCE: Businesswire