UBS sells majority stake in distribution platform to Deutsche Börse's Clearstream
On the 01.21.20 at 11:05AM
UBS Fondcenter, the B2B fund distribution platform, will merge with Clearstream’s Fund Desk, with approximately $230bn in assets under administration (AuA). The Swiss group expects a post-tax gain of around $600m.
UBS announced that it will sell a majority stake (51.2%) in UBS Fondcenter, a part of its asset management business division, to Clearstream, Deutsche Börse Group’s post-trade services provider.