Clearstream gains Edmond de Rothschild as Vestima client
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Clearstream gains Edmond de Rothschild as Vestima client 24 July 2017Switzerland Reporter: Jenna Lomax
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Clearstream has been chosen by Swiss-based family financial group Edmond de Rothschild to streamline and consolidate its third-party fund processing activities in response to incoming regulatory challenges.
Vestima, Clearstream’s fund process programme, will assist Rothschild by processing its assets in its mutual funds and hedge funds on a single platform.
In a statement on the partnership, Clearstream explained that UCITS V and the Alternative Investment Fund Manager Directive are changing the European investment funds market, leading to a growing need for transparency and efficiency in investment funds processing.
Edmond de Rothschild is an independent, family-run financial group managing CHF 166 billion (USD 175.7 billion) and focusing on asset management and private banking.
Philippe Seyll, co-CEO and head of investment fund services at Clearstream Banking, said: “We are delighted that Edmond de Rothschild has chosen Vestima for the processing of fund assets.”
“Clearstream operates according to the highest standards of safety for customer assets, including asset segregation and delivery-versus-payment settlement. Edmond de Rothschild will benefit from our focus on risk management and the operational efficiency of our streamlined one-stop-shop solution across all fund types.”
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