Ausmaq takes on Clearstream name
Managed funds services business Ausmaq is now known as Clearstream Australia after the competition of its acquisition by Clearstream and will connect to its global fund processing platform Vestima in Q4.
Ausmaq was acquired by Clearstream, a post-trade services and fund data provider, from National Australia Bank last year but the name change only came into force on 1 June.
From Q4 2020, Ausmaq would also connect to Clearstream’s fund processing platform Vestima which would allow access to its international and domestic services. This would give Australian investors access to more than 190,000 investment funds in almost 50 different jurisdictions.
It would also facilitate access to the local market for international investors which would boost local Australian domestic flows.
Ravi Subramaniam, chief executive of Clearstream Australia, said: “We see growing interest in cross-border investments in Australia. Connecting the Australian market with other international markets, Clearstream Australia will support our clients with local expertise and knowledge of the domestic market, embedded in an international network for investment fund services.”
Philippe Seyll, chief executive of Clearstream Banking S.A. and head of Clearstream’s Investment Fund Services, commented: “With Clearstream Australia, we are significantly expanding our international network for investment fund services. The integration lays further groundwork for the extension of our Vestima services to the Australian markets, connecting international and Australian issuers and investors.”
AUTHOR
Laura Dew
Recommended for you
Iress has announced it will divest its superannuation business as the latest step in its transformation program, allowing it to focus on wealth management.
The corporate regulator has named its new chief executive, who is set to replace retiring interim CEO Greg Yanco in March.
Following the departure of its chief marketing officer last year, AMP has appointed a successor to take up the position with the appointment coming from the US.
The Financial Services Council has appointed Justine Earl-Smith as executive director for commercial partnerships and growth, a newly created role for the organisation.
