Novo Banco, Portugal’s fourth-largest bank, has selected Euroclear FundsPlace® as its exclusive provider for fund distribution services – marking a major step forward in simplifying and scaling its fund operations.
Euroclear FundsPlace is Euroclear’s end-to-end fund distribution solution, connecting more than 2,500 clients worldwide. Through the agreement, Euroclear will manage platform services and automate trailer fee collection for Novo Banco’s mutual fund depot. The move will reduce complexity, bring greater transparency and improve efficiency across the bank’s distribution model.
“Partnering with Euroclear FundsPlace is a key step in our strategy to simplify and enhance our fund distribution operations. This collaboration allows us to deliver greater efficiency and value to our clients as we are better positioned to provide a broader range of investment opportunities with improved service quality and responsiveness.”, said Elisabete Pereira, Executive Director at Novo Banco.
Vincent Clause, Global Head of Funds Strategy and Product Expansion at Euroclear comments: “This agreement marks a significant milestone in our long-standing relationship with Novo Banco. By centralising fund distribution with Euroclear, Novo Banco reinforces its commitment to operational excellence and investor transparency. By leveraging Euroclear’s trusted infrastructure, Novo Banco benefits from greater scale, reduced complexity and improved market connectivity.”
The move follows Euroclear’s announced acquisition of Spanish fund services provider Inversis, further expanding its growing footprint in Southern Europe.
