US Bank Invests in Lumint
Posted by Colin Lambert. Last updated: April 27, 2021
US Bank has made a strategic investment in currency management services provider Lumint.
Terms of the investment were not revealed, earlier this year the bank rolled out a passive currency hedging service powered by Lumint and is now touting a new global currency management solution that automates portfolio and share class currency hedging for institutional investors.
“We look forward to working collaboratively with Lumint to develop a product roadmap that provides tailored solutions for our customers,” says Chris Braun, US Bank head of foreign exchange, who will serve on Lumint’s advisory board.
“This investment will accelerate our development, and we are thrilled to expand and strengthen our partnership with US Bank,” adds Alex Dunegan, Lumint CEO. “We’re especially excited for the opportunity to create new and innovative products with the US Bank team.”