Clearstream completes acquisition of Swisscanto Funds Centre
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Clearstream completes acquisition of Swisscanto Funds Centre 03 October 2018Zurich Reporter: Jenna Lomax
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Clearstream, Deutsche Börse’s post-trade services provider, has completed the acquisition of Swisscanto Funds Centre (SFCL) from Zürcher Kantonalbank, following approval from British and Luxembourg regulatory authorities.
According to Clearstream, the addition of SFCL will further enhance Clearstream’s service portfolio and support the company’s global fund services strategy.
With the acquisition, the firm is expanding its offering in the fund space to include management of distribution contracts and data processing.
The future set-up of SFCL within Deutsche Börse Group will be designed to further develop and expand its business model, while SFCL’s product offering for the Swiss funds market will be extended to meet the needs of Clearstream’s international customer base.
Philippe Seyll, co-CEO of Clearstream Banking, said: “SFCL is a great match for Clearstream. This acquisition allows us to further broaden our suite of fund services to meet the current market needs—making us an even strong partner for our clients.”
Mark O’Brien, CEO at SFCL, said: “In Clearstream, with its extensive expertise in the fund markets, we have found a compatible owner for the fund desk.”
He added: “Becoming part of Deutsche Börse Group also gives us the opportunity to further develop our services within the context of Clearstream’s wider business strategy.”
“In doing so, we can continue to provide our proven services to our existing client base and to new customers in the future.”
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