02 September 2015

Clearstream opens new Dublin centre to cater for hedge funds

29 November 2012  |  2642 views  |  0 power leads

European depository Cleartsream has opened a hedge fund processing centre in Dublin, Ireland, creating 15 new positions with the potential to expand to 100 roles.

The new venture has already signed six pilot customers, who will get the run of a range of standardised post-trade processing services, including automated order routing, settlement and position reporting.

Duiblin was chosen over Clearstream's current investment funds base in Luxembourg due to its location as a recognised global centre for hedge fund administration.

In May, Deutsche Bank moved its European hedge fund operations to Dublin, joining an influx of big investment banks which have taken advantage of generous tax breaks and government incentives to move back office admin roles to Dublin's International Financial Services Centre.

Jeffrey Tessler, CEO Clearstream, says: "The talented pool of expertise and the proximity to the hedge fund industry have been the key drivers for our choice of Dublin. Our product range for investment funds will soon provide customers with a single, fully automated point of entry for routing orders to fund managers across all funds types."

Christian Westerholt, previously head of product development in Clearstream's investment fund services area, will be the general manager of the Dublin branch.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

22 May, 2012
15 February, 2012
19 January, 2012
09 August, 2011
20 May, 2011
07 April, 2011
18 February, 2011
15 February, 2011

Related company news

 
Your browser is unable to support Flash files.

Who is commenting?

Top topics

Most viewed Most shared
SunGard system glitch causes havoc for BNY...
7150 views comments | 14 tweets | 12 linkedin
Third of Brits expect day-to-day mobile pa...
7106 views comments | 36 tweets | 14 linkedin
Kenya's NIC Bank links to Twitter and What...
6266 views comments | 27 tweets | 17 linkedin
Payments UK sets out vision for 'world cla...
6166 views comments | 17 tweets | 10 linkedin
HSBC glitch leaves thousands of customers...
5786 views comments | 13 tweets | 7 linkedin

Featured job

Max £55k
London

Find your next job