Clearstream completes Ausmaq Limited acquisition


Clearstream completes Ausmaq Limited acquisition

Clearstream has today completed the acquisition of Ausmaq Limited from National Australia Bank (NAB).

LeapRate reminds that the company reached an agreement with NAB to acquire its Sydney-based specialist managed funds services business Ausmaq Limited back in May this year.

Clearstream’s expansion to the Australian funds market and the future set-up of Ausmaq will be designed to directly serve Australian customers within the same region and time zone.

In 2020, Clearstream will also connect international and Australian market participants via its fully automated fund processing platform Vestima.

Bernard Tancré, Head of Investment Fund Services at Clearstream, commented:

The acquisition of Ausmaq is the perfect opportunity to broaden our network to include the Australian domestic market. By integrating our Vestima offering and Ausmaq’s services, we will be able to provide Australian custodian banks, wrap platforms and wealth managers with our proven international services.

Ravi Subramaniam, Chief Executive Officer of Ausmaq, said:

We are excited to join an internationally renowned post-trading company like Clearstream. This will provide Ausmaq’s existing and future domestic customers with a broader suite of investment opportunities and likewise provide Clearstream’s customers with direct access to the thriving Australian managed funds market.

Related News

arrow

Clearstream completes Ausmaq Limited acquisition

0

Send this to a friend