Bernard Tancré, Head of Investment Funds Services at Clearstream

Clearstream, Deutsche Borse Group’s post-trade services provider, is all set to acquire National Australia Bank Limited(NAB)’s managed funds services Ausmaq Limited. The acquisition, that will close in the second half of 2019, is a step towards Deutsche Borse’s Roadmap 2020 strategy.

Bernard Tancré, Head of Investment Funds Services at Clearstream, said: “Ausmaq is a perfect fit for Clearstream’s strategy in the Asia-Pacific region. As an established provider of fund processing solutions, the acquisition allows us to broaden our fund service offering in Australia and to provide our international customers with integrated solutions for the domestic market.”

The supplier states that Clearstream aims to expand on Ausmaq’s services and extend the customer base to Australian custodian banks, wrap platforms and wealth managers. It also aims to enable access to its global funds processing platform Vestima. Thus, Ausmaq’s customers are expected to benefit from direct access to international and alternative funds.

Ravi Subramaniam, Chief Executive Officer of Ausmaq, said: “Today’s announcement is the beginning of an exciting new chapter for Ausmaq. We’re thrilled to be joining an organisation of Clearstream’s calibre – a recognised global leader in post-trade services. Our clients can expect to receive the same exemplary service that they’ve become accustomed to over the years, with increases in the service offering to be introduced over time.”

by Megha Bhattacharya
Market Analyst at IBS Intelligence