Clearstream targets streamlined hedge funds business for Swiss bank

Clearstream will collaborate with Bank Vontobel as the Swiss bank aims to update its hedge funds business.
By Paul Walsh

Bank Vontobel will partner up with Clearstream Banking in a bid to consolidate its third-party hedge fund processing activities.

Using Clearstream’s funds processing infrastructure Vestima, the Swiss bank will be able to process all types of funds, including mutual and hedge funds, on a single platform.

The partnership comes in response to regulatory demands for increased transparency and efficiency in investment funds processing under rules such as AIFMD and UCITS V.

“By moving our third-party hedge fund business to the industry market leader, we achieve a higher STP-rate in the hedge fund processing and we offer our clients a new level of service quality based on Clearstream’s expertise,” said Peter Camenzind, head of transaction banking at Vontobel.

Swiss-based Bank Vontobel currently holds CHF 195 billion of client assets.

“We are delighted to extend our relationship with Bank Vontobel and to start delivering services to this customer in the Swiss market,” said Philippe Seyll, co-CEO and head of investment fund services at Clearstream Banking

“Switzerland has a high importance for us and is considered as one of our key markets.”

The partnership is the second in succession for Clearstream following its agreement with collateral exchange platform ColleX last week in a bid to offer simplified buy-side access to tri-party management.