Clearstream announced they will launch a new office in Cork, Ireland, in the wake of acquiring Citco’s Cork-based Financial Institution Hedge Fund custody processing business.
The new office, which will open on October 14, is its first in Ireland and is now Clearstream’s largest operational center for investment funds.
According to the Deutsche Boerse owned firm, 300 Citco employees based in Cork have now integrated into Clearstream’s Investment Fund Services division.
“The large manpower we now have in Cork gives Clearstream greater credibility in the hedge fund space and will allow us to attract much larger hedge fund portfolios,” says Philippe Seyll, head of investment funds services, Clearstream.
This new hedge fund processing capacity has already attracted significant interest among key players in the market and we expect a solid growth of about 20% in revenues by the end of 2015.”
Clearstream completed the deal with Citco last week, which expands Clearstream’s investment fund services business to cover all fund types including exchange-traded funds, mutual funds and alternative funds.
Clearstream Launches Ireland Office Following Citco Deal
The new office, which will open on October 14, is its first in Ireland and is now Clearstream’s largest operational center for investment funds.
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