Novo Banco, Portugal’s fourth-largest bank, has chosen Euroclear’s FundsPlace platform as its exclusive provider for fund distribution services, in a move designed to simplify operations and expand investment opportunities for clients.
Novo Banco Selects Euroclear FundsPlace to Streamline Fund Distribution
FundsPlace, Euroclear’s end-to-end fund distribution solution, connects more than 2,500 clients globally.
Under the agreement, Euroclear is expected to oversee platform services and automate trailer fee collection for Novo Banco’s mutual fund depot, aiming to cut complexity and improve efficiency across the bank’s distribution model.
“Partnering with Euroclear FundsPlace is a key step in our strategy to simplify and enhance our fund distribution operations,” said Elisabete Pereira, Executive Director at Novo Banco.
“This collaboration allows us to deliver greater efficiency and value to our clients as we are better positioned to provide a broader range of investment opportunities with improved service quality and responsiveness.”
Vincent Clause, Global Head of Funds Strategy and Product Expansion at Euroclear, described the partnership as an important milestone in their relationship.
“By centralising fund distribution with Euroclear, Novo Banco reinforces its commitment to operational excellence and investor transparency. By leveraging Euroclear’s trusted infrastructure, Novo Banco benefits from greater scale, reduced complexity and improved market connectivity,” he stated.
The deal follows Euroclear’s acquisition of Spanish fund services provider Inversis earlier this year, further cementing its presence in Southern Europe.
