UBS Announces Agreement to Sell a Majority Stake in UBS Fondcenter, Its B2B Fund Distribution Platform, to Clearstream
January 23, 2020
January 23, 2020
NEW YORK, Jan. 23 -- UBS, a financial services provider, issued the following news release on Jan. 21:
UBS Fondcenter will be combined with Clearstream's Fund Desk to create a leading global B2B fund distribution platform with approximately USD 230bn in Assets under Administration (AuA). As part of the transaction, UBS and Clearstream will enter into long-term commercial cooperation arrangements. Increased scale and breadth of capabilities and extended local presence are expected to . . .
UBS Fondcenter will be combined with Clearstream's Fund Desk to create a leading global B2B fund distribution platform with approximately USD 230bn in Assets under Administration (AuA). As part of the transaction, UBS and Clearstream will enter into long-term commercial cooperation arrangements. Increased scale and breadth of capabilities and extended local presence are expected to . . .