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On 14 October 2014, Clearstream will officially inaugurate its new office in Cork, Ireland, in the presence of Cllr. Alan Coleman, Cork County Mayor. This office opening follows the acquisition of Citco’s hedge fund sub-custody business for financial institutions in April 2014. The business transition took place on 5 October 2014 with the integration of 300 former employees of Citco Global Securities Services (CGSS) Ltd in Cork into Clearstream’s Investment Fund Services division. The ownership of the Citco IT systems and software for hedge fund processing has also been transferred to Clearstream.
The new Cork-based entity, Clearstream Global Securities Services Ltd, is a 100% subsidiary of Clearstream International SA in Luxembourg and will continue to use its acronym...
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