Bank Degroof Petercam to select Clearstream as strategic partner for streamlining its third-party fund distribution business

17.08.2016

Bank Degroof Petercam, a leading independent financial institution in Europe, has chosen Clearstream as its strategic partner to streamline and consolidate third-party fund processing activities.

One-stop shop solution

The decision was mainly motivated by the fact that Clearstream’s investment funds processing infrastructure Vestima can process all types of funds from mutual funds to ETFs and hedge funds on a single platform.

Efficiency gains

Vestima’s secured transaction model is based on a DVP settlement process that significantly improves operational efficiency and considerably reduces risks. 

Risk mitigation

Bank Degroof Petercam values Clearstream’s solid infrastructure, long-term AA credit ratings and the stringent regulatory oversight. As a Securities Settlement System (SSS), Clearstream publicly discloses risk management principles and regulators review all services, connections and network links on a regular basis.

Asset safety has also become a key concern in the investment fund industry. This is a reflection of the regulatory agenda, such as the implementation of AIFMD and UCITS V. Centralised solutions, such as Vestima, serve the growing need for efficiency and transparency in investment funds processing to comply with regulatory developments and new rules on risk mitigation.

Pascal Nyckees, COO at Bank Degroof Petercam said: “Clearstream’s long-term and high quality commitment to the investment fund industry was a key driver to become users of Vestima. We expect our clients to benefit from increased efficiency thanks to the automated processing of our entire fund portfolio.”

Philippe Seyll, Co-CEO and Head of Investment Fund Services at Clearstream said: “We are delighted that Bank Degroof Petercam has chosen Vestima for the processing of fund assets. Vestima will provide the entire Degroof Petercam group with streamlined services across all fund types from a single platform in a one-stop shop solution.”

About Bank Degroof Petercam

Bank Degroof Petercam is a reference independent financial institution, serving private, institutional investors and organisations, based on a history dating back to 1871.

Headquartered in Brussels, Bank Degroof Petercam employs 1400 professionals through offices in Belgium, Luxembourg, France, Switzerland, Spain, The Netherlands, Germany, Italy, and Hong Kong.

Its clients benefit from the best in-class services through the unique combination of private banking, institutional asset management, investment banking (corporate finance and financial intermediation) and asset services.

Bank Degroof Petercam manages assets of over 50 billion Euro for private investors and families, corporates, public and corporate pension funds, insurance companies, governmental and non-profit organisations.