CheckFree Financial and Compliance Solutions, a business unit of CheckFree Corporation, announced the appointment of Martin Pearce to the position of executive director of business development. Pearce, who spent the majority of his career working for London-based financial institutions, brings to his new position expertise in the strategic direction and the implementation of global straight-through-processing programs within the securities industry. Pearce was last at Massachusetts Financial Services Management (MFS) Investments, where he was head of the firm's STP initiative.
The National Check Exchange (NCE) announced that the Connecticut Clearing House has joined its check clearing and settlement organization. With the addition of the Connecticut Clearing House volume, NCE clears and settles 4.1 million checks valued at $8.1 billion on average per day.
The Northern Trust Company announced Ashmore Investment Management selected Northern Trust to provide global custody, fund-administration and fund-accounting services for the $225 million Cayman-domiciled Ashmore Emerging Markets Debt Fund, set up specifically to cater for Ashmore's U.S. ERISA and other institutional clients. These services will be provided by Northern Trust Ireland, a Dublin-based fund-administration center.