U.S. Bank announced today that it has made a strategic equity investment in Lumint, a company that provides currency management services to institutional investors.
Today’s announcement strengthens the bank’s relationship with Lumint. Earlier this year, U.S. Bank launched a new passive currency hedging service powered by Lumint’s industry-leading technology. The new U.S. Bank Global Currency Management solution offers institutional investors a highly automated and scalable solution for portfolio and share class currency hedging and will allow them to enjoy full performance of their assets and protect their overall investment from FX volatility.
“We are excited to deepen our relationship with Lumint,” said Chris Braun, U.S. Bank Head of Foreign Exchange. “We look forward to working collaboratively with Lumint to develop a product roadmap that provides tailored solutions for our customers.”
As part of the investment, Braun will serve on Lumint’s advisory board.
“This investment will accelerate our development, and we are thrilled to expand and strengthen our partnership with U.S. Bank,” said Alex Dunegan, Lumint CEO. “We’re especially excited for the opportunity to create new and innovative products with the U.S. Bank team.”