LBBW partners with Clearstream 25 October 2024 Germany Reporter: Klea Neza
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Landesbank Baden-Württemberg (LBBW), the bank of the German federal state of Baden-Württemberg, has selected Clearstream to enhance its fund distribution support activities.
Through Clearstream’s Fund Centre distribution platform, LBBW aims to streamline processes across its distribution support and commission and contract management services.
This partnership will help LBBW to focus on core capabilities and support its growth and expansion, note the firms.
Neil Wise, CCO of Clearstream Fund Services, comments: “This collaboration is a testament to the long-standing trust and cooperation between our companies. With Clearstream’s comprehensive one-stop shop for investment funds, we ensure streamlined, efficient, and secure processing and distribution services for all fund types. We look forward to providing LBBW with a complete and scalable funds solution, which will add value for both LBBW and the asset managers.”
Matthias Heuser, divisional board member Operations and Process Management for LBBW, adds: “Using Clearstream Fund Centre platform will help us to optimise our distribution processes as well as to simplify the Know Your Distributor (KYD) compliance processes. We are convinced that all parties will benefit from our move to bundle the bilateral agreements that we have now put in place.”
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