Merck Finck Privatbankiers has signed up to Clearstream Fund Desk to consolidate all of its distribution support activities onto a single network.
As a long-standing user of Clearstream’s flagship Vestima fund processing platform, the German private bank will expand its collaboration to cover the full range of services around distribution support and commission management.
“Partnering with an organisation that places the same focus on operational integrity and process efficiency around contractual aspects of distribution as Merck Finck was a critical requirement for choosing Clearstream Fund Desk”, said Dr Martin Deckert, COO, Merck Finck Privatbankiers.
The Clearstream Fund Desk platform supports fund distributors and asset managers for compliance-based know your distributor (KYD) processes, and to comply with the regulatory challenges for fund distribution, such as MiFID II.
“Merck Finck will profit from streamlined processes around contract negotiation and commission management. This move will allow the company to foster efficiencies for underlying clients and to scale their investment fund business,” added Bernard Tancré, head of investment fund services, Clearstream.
Earlier this year, Clearstream launched its fund distribution support service following the completion of its acquisition of the Swisscanto Fund Centre business.
The business was combined with the Vestima platform under the umbrella of Clearstream Fund Desk, with new services covering distribution contract negotiation, compliance support services, anti-money laundering, know-your-customer, and exchange fund data from asset managers.