Clearstream targets streamlined fund operations for Swiss bank

Clearstream will collaborate with Edmond de Rothschild as the Swiss bank aims to simplify its third-party fund processes.
By Paul Walsh
Swiss bank Edmond de Rothschild has selected Clearstream as a strategic partner in order to consolidate its third-party fund processing activities.

As part of the partnership, Edmond de Rothschild will access Clearstream’s fund processing infrastructure Vestima, designed to process all types of funds, including mutual and hedge funds, on a single platform.

According to Clearstream the partnership is in response to regulatory demands for increased transparency and efficiency in the European investment funds landscape under rules such as UCITS V and AIFMD.

Edmond de Rothschild currently holds CHF 166 billion in assets under management.

“It [Edmond de Rothschild] will benefit from our focus on risk management and the operational efficiency of our streamlined one-stop-shop solution across all fund types,” said Phillipe Seyll, co-CEO and head of investment fund services at Clearstream.

The deal is second for Clearstream in Switzerland in a month, following the agreement with Bank Vontobel to streamline the bank’s hedge fund processing operations through Vestima.