UBS has chosen Clearstream to manage fund distribution support activities for the former Credit Suisse (CS) business, marking a consolidation of operations.
UBS Picks Clearstream for Fund Distribution Support
It was explained in the Clearstream press release that through Clearstream’s Fund Centre platform, UBS aims to streamline processes, reduce costs linked to trailer fee collection, and optimise contract management.
The move reflects the European fund distribution platform’s growing reputation in the market, as its Fund Centre platform continues to expand Assets under Distribution (AuD) and build trust among industry leaders.
The platform offers a comprehensive suite of services, including compliance-focused know-your-distributor (KYD) processes and adherence to regulatory frameworks such as MiFID II.
Philippe Seyll, CEO of Clearstream Fund Centre, welcomed the partnership, stating: “We are thrilled to deepen our excellent relationship with UBS, now extending our support to the former CS business within UBS through our comprehensive fund distribution services.
“At Clearstream Fund Centre, we bridge the gap between fund distributors and asset managers globally, leveraging cutting-edge technology and streamlined distribution management.”
The collaboration is expected to allow UBS to focus on its core capabilities while Clearstream takes on the operational and regulatory challenges of fund distribution. By aligning services under one platform, UBS is well-positioned for growth and expansion.
In 2021, UBS sold its remaining minority stake (48.8%) in Clearstream Fund Centre (CFC) to Deutsche Börse for approximately CHF 390 million. As a result, Deutsche Börse became the sole shareholder of Clearstream Fund Centre AG.
The company said at the time that long-term commercial cooperation arrangements were in place for the provision of services by Clearstream to UBS, “including the collaboration in jointly servicing banks and insurance companies.”
