PNC Global Investment Servicing
, formerly known as PFPC, plans to launch full-service administration for indexed and actively-managed ETFs in the early part of this year, said Nancy Wolcott
, president of the Wilmington, Delaware-based fund servicer, in a recent interview with The MFWire
. Those services will include custody, fund accounting, transfer agency and clearing.
Wolcott, who was promoted to her current post last month (see The MFWire,
12/03/08), said PNC Global
has put together a team of about 10 people dedicated to the effort and plans to add more as its client base grows.
PNC's global custody division's staff increased by 10 percent in 2008. PNC plans to add another 10 percent to the unit this year.
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