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Clearstream opens Dublin hedge fund processing centre with new GM Christian Westerholt

Clearstream opens Dublin hedge fund processing centre with new GM Christian Westerholt Clearstream has established a branch in Dublin to extend its post-trade offering in the area of investment funds to hedge funds run by Christian Westerholt .

 
PRLog - Nov. 29, 2012 - Clearstream has established a branch in Dublin to extend its post-trade offering in the area of investment funds to hedge funds.
Clearstream Banking S.A., Dublin Branch, will extend the company’s investment funds business to alternative funds and allow Clearstream to service the entire range of funds: mutual funds, exchange-traded funds and hedge funds.

Clearstream opens Dublin hedge fund processing centre with new GM Christian Westerholt. http://www.hedgeho.com/hedge-fund-news/clearstream-opens-dublin-hedge-fund-processing-centre/


The hedge fund investor services were set up following a steep increase in client demand for such investments and will over time be fully integrated into Clearstream’s fund processing environment. The new venture has already signed six pilot customers. Christian Westerholt, previously Head of Product Development in Clearstream’s Investment Fund Services area, will be the General Manager of the Dublin branch.

Clearstream opens Dublin hedge fund processing centre with new GM Christian Westerholt.

Michael Noonan TD, Ireland’s Minister for Finance, said: “The Financial Services sector is a key driver of jobs in Ireland. I am delighted that Clearstream has taken the decision to establish an operation centre for servicing the investments into hedge funds in Dublin with the potential for more than 100 jobs.”

Jeffrey Tessler, CEO Clearstream, said: “The new Dublin base broadens our value proposition in the investment funds spaces adding to our established investment funds base in Luxembourg. The new specialised unit based in Dublin will provide the operational capabilities for hedge fund services to customers around the world. 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.”

Clearstream opens Dublin hedge fund processing centre with new GM Christian Westerholt.


http://www.hedgitorial.com/

Philippe Seyll, Head of Investment Funds Services and Member of the Executive Board of Clearstream, said: “Hedge funds are highly complex and diverse instruments. Processing of hedge funds therefore requires a lot of manual effort which comes at significant operational risk and involves cost that are approximately 100 times higher than for other fund types. Our aim is to increase efficiency in the hedge funds processing space and to offer investors a superior value proposition at a better price. We also remain committed to further growing this business and creating new jobs in Ireland where we have now created 15 new positions.”

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Source:Deal212
Country:United States
Industry:Investment, Finance
Tags:Clearstream, fund processing, Christian Westerholt
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