Clearstream enters Australian market
20 May 2019 Frankfurt
Image: Shutterstock
Clearstream is to acquire Ausmaq Limited, a Sydney-based specialist managed funds services business owned by National Australia Bank Limited.
The acquisition marks Clearstream鈥檚 entrance into the Australian market and is part of Deutsche B枚rse鈥檚 Roadmap 2020 strategy to bring a focused and disciplined approach in selected growth areas, one of which is investment funds.
Clearstream will expand on the service offering currently available to Ausmaq customers to also provide Australian custodian banks, wrap platforms and wealth managers with access to its global funds processing platform, Vestima.
Ausmaq customers will gain additional product reach with direct access to international funds and alternative funds.
The acquisition is expected to be completed in the second half of 2019, subject to regulatory approval.
Bernard Tancr茅, head of investment funds services at Clearstream, said: 鈥淎usmaq is a perfect fit for Clearstream鈥檚 strategy in the Asia-Pacific region. As an established provider of fund processing solutions, the acquisition allows us to broaden our fund service offering in Australia and to provide our international customers with integrated solutions for the domestic market.鈥�
Ravi Subramaniam, CEO Ausmaq, commented: 鈥淲e鈥檙e thrilled to be joining an organisation of Clearstream鈥檚 calibre鈥攁 recognised global leader in post-trade services. Our clients can expect to receive the same exemplary service that they鈥檝e become accustomed to over the years, with increases in the service offering to be introduced over time.鈥�
The acquisition marks Clearstream鈥檚 entrance into the Australian market and is part of Deutsche B枚rse鈥檚 Roadmap 2020 strategy to bring a focused and disciplined approach in selected growth areas, one of which is investment funds.
Clearstream will expand on the service offering currently available to Ausmaq customers to also provide Australian custodian banks, wrap platforms and wealth managers with access to its global funds processing platform, Vestima.
Ausmaq customers will gain additional product reach with direct access to international funds and alternative funds.
The acquisition is expected to be completed in the second half of 2019, subject to regulatory approval.
Bernard Tancr茅, head of investment funds services at Clearstream, said: 鈥淎usmaq is a perfect fit for Clearstream鈥檚 strategy in the Asia-Pacific region. As an established provider of fund processing solutions, the acquisition allows us to broaden our fund service offering in Australia and to provide our international customers with integrated solutions for the domestic market.鈥�
Ravi Subramaniam, CEO Ausmaq, commented: 鈥淲e鈥檙e thrilled to be joining an organisation of Clearstream鈥檚 calibre鈥攁 recognised global leader in post-trade services. Our clients can expect to receive the same exemplary service that they鈥檝e become accustomed to over the years, with increases in the service offering to be introduced over time.鈥�
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