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VPS is combining its Fund Services business area with its subsidiary company Evolution. Its objective is to set up a combined unit that will create growth by delivering sought-after services to fund and asset management companies more quickly and efficiently than VPS and Evolution can achieve independently.
VPS will separate its fund services activities that do not require official authorisation and combine these with VPS’s Swedish subsidiary company Evolution Software Sweden AB (Evolution). The transaction is scheduled for 1 September 2017, at which point Evolution will change its name to Centevo AB.
“We see an increasing need for our services to be delivered from one provider to make the processes involved as simple as possible for customers. This is an area that VPS is keen to focus on further. Centevo will be one of the leading companies in this market in the Nordic region. Our aim is to strengthen this position further”, comments John-Arne Haugerud, Chief Executive Officer of VPS. Setting up Centevo will involve a number of positive changes. It will create a provider with significant resources and expertise, customers will be able to access more services from the same provider, our resources will be used more efficiently, and product and service development will be quicker. Dialogue with customers and contractual issues are also areas that will be simpler for customers. VPS will also develop its offer in the securities register area to ensure it remains attractive for fund management companies to register their funds with VPS and for fund investors to hold their fund units on a securities account that is available in VPS Investor Services.
