BNY Mellon

Victims of Bernard Madoff's Ponzi scheme are set to receive proceeds from a $210m settlement between a Bank of New York Mellon advisory firm subsidiary and US authorities, the New York attorney-general has said.

The deadline for Arch Cru investors to accept payments from a £54m scheme set up by Capita and the funds' depositories has been delayed by 12 months until 31 December 2013.

MOVERS & SHAKERS

Who has moved where in another busy week in financial services?

BNY Mellon has expanded its distribution team with three hires including RSM Tenon's Adrian Gough.

Pershing has begun hosting its practice management programme in the UK for the first time, giving firms an insight into regulation, buying, selling and merging businesses, technology and changing client demands.

Asset management boutique Newton, a subsidiary of BNY Mellon, is set to launch fully unbundled Retail Distribution Review (RDR)-ready share classes across its entire fund range in September.

The Financial Services Consumer Panel (FSCP) is urging the Financial Services Authority (FSA) to seek to extend the deadline for a £54m Arch Cru payment scheme involving Capita, BNY Mellon and HSBC.

The news that Spain's banks will receive a bail-out of around €100bn to ease pressure on the country's banking sector has been met with mixed reactions from the markets.

Three brave finance professionals are preparing to undertake a gruelling walk to the North Pole, with the aim of raising £1m for worthy causes.