- Euroclear acquires a strategic stake in Inversis with a
committed plan to full ownership by end 2027
- The acquisition aligns with Euroclear's long-term growth
objectives and strengthens Euroclear's presence in Spain
- The combination accelerates the growth of Euroclear's
end-to-end funds platform solution, Euroclear FundsPlace
- Inversis' technology-led, diversified and resilient business
model underpinned by continued growth complements Euroclear's
existing funds business
BRUSSELS, July 19,
2024 /PRNewswire/ -- Euroclear today announces it has
acquired a strategic stake of 49% in Inversis, a leading provider
of global investment technology solutions and outsourced financial
services. Euroclear will become the full owner of Inversis by end
2027. Financial details of the transaction have not been disclosed.
The transaction is subject to customary closing conditions and
regulatory approvals.
Founded in 2001 and headquartered in Madrid, Inversis is a wholly-owned subsidiary
of Banca March. As a provider of
investment technology solutions, the company offers funds platform
services, securities outsourcing, intermediation, funds depository
and various other services to financial institutions, insurance
companies and new players in the distribution of investment
products.
Building on the acquisitions of MFEX in 2021 and Goji in 2023 as
well as the recent strategic investment in IZNES, Euroclear
continues to enhance its Euroclear FundsPlace® offering, its
end-to-end funds platform solution across mutual and money market
funds, alternative funds and ETFs. Euroclear administers
€3.3 trillion of fund assets, servicing approximately 3,000
fund distributors and 2,500 fund management companies spanning
across 85 countries.
By partnering with Inversis, Euroclear aims to accelerate the
delivery of its funds' strategy, and increase its pan-European
coverage thanks to Inversis' significant presence on the
Spanish market. Inversis will benefit from Euroclear's
international reach and proven capabilities as leading capital
market infrastructure.
Euroclear's investment in Inversis will accelerate the Spanish
company's growth. Further investments in technology and workforce
will be made to support the growth of the company. The agreement
will strengthen the Spanish company's global footprint, after it
successfully consolidated its value proposition in Luxembourg through the acquisitions of Banque
Havilland's depositary business and 40% of the fund management and
administration firm Adepa. It will also afford robust support for
Inversis' large clients business line.
The transaction is immediately EPS accretive for Euroclear, with
the expected return on investment above Euroclear's cost of equity
in the first year of full ownership. The regulatory capital impact
on Euroclear is limited and the transaction is fully financed by
existing cash.
Valérie Urbain, Chief Executive Officer of Euroclear, said:
"We are delighted to join forces with Inversis, a highly
attractive business which aligns with our ambition to
offer a true end-to-end solution to our clients on the full
spectrum of funds products across all regions in Europe and beyond. Inversis' diversified and
resilient business model driven by continued growth perfectly
complements Euroclear's business. As a European leader with a
global presence committed to supporting the Capital Markets Union
(CMU), Euroclear will improve its coverage in Spain, a market offering significant
growth opportunities in the fund distribution space."
Banca March CEO, José Luis Acea,
said: "Since Banca March acquired full ownership of Inversis in
2016, we have supported its growth strategy, which has been guided
by a commitment to offering its institutional clients
comprehensive, global solutions as catalysts for their financial
asset distribution businesses, with a clear ambition to grow the
company's global footprint. We have found in Euroclear, a leading
provider of financial services for the largest international
banking entities, the ideal partner to take the company to a new
level of growth."
Inversis CEO, Alberto del Cid,
said: "By combining with Euroclear, a prominent provider of
financial services for all the major global banking institutions,
Inversis will reinforce its large clients' business. Likewise,
Inversis' existing clients (which include Banca March) will benefit from a stronger value
proposition across all the firm's business areas, including its
fund distribution platform, which will be supported by Euroclear's
FundsPlace solution, positioning it as one of the leading global
players."
About Inversis
Inversis, a wholly-owned subsidiary of Banca March, is Spain's leading provider of global investment
technology solutions and outsourced financial services for
financial institutions, insurance companies and new players in the
investment product distribution space.
Since its inception, Inversis has invested consistently in
technology and innovation to adapt seamlessly to the needs of the
institutional sector. The technology delivered by Inversis allows
its institutional clients to outsource non-core activities and
processes, enhancing their own efficiency.
Inversis, as well as being an investment product platform, provides
intermediation, settlement and custody services, state-of-the-art
technology outsourcing solutions, treasury and capital markets
services, depositary services, online brokerage services and
research services. www.inversis.es
About Banca
March
Banca March is
one of the leading banks in private and corporate banking in
Spain. It is also the only 100%
family-owned bank since its incorporation in 1926. Consistently
with a cautious and long-term approach, Banca March's business model is underpinned by
solid financial and capital metrics: highest capital ratio CET 1
(21,26%) in the Spanish market, NPL ratio among the lowest (1.88%
as of December 2023 vs an average of
3.54%), and liquidity ratios (LCR at 325.9% and DTL at 168.1%)
among the highest in Europe. Banca
March's robust business model has also been acknowledged by
Moody's. The rating agency has raised the bank 's long-term deposit
rating to A2 with a positive outlook, ranking at the top in the
Spanish banking system and ahead of the Kingdom of Spain 's, which stands at Baa1. Banca March holds a significant stake in
Corporación Financiera Alba, a holding Company with stable,
long-term investments in companies such as Naturgy (indirect),
Acerinox, Profand, Ebro Foods, Viscofan, Atlantic Aviation and
Parques Reunidos, among others.
About Euroclear
Euroclear group is the financial industry's trusted provider of
post trade services. Guided by its purpose, Euroclear innovates to
bring safety, efficiency and connections to financial markets for
sustainable economic growth. Euroclear provides settlement and
custody of domestic and cross-border securities for bonds, equities
and derivatives and investment funds. As a proven, resilient
capital market infrastructure, Euroclear is committed to delivering
risk-mitigation, automation and efficiency at scale for its global
client franchise. The Euroclear group comprises Euroclear Bank, the
International and Irish CSD, as well as Euroclear Belgium,
Euroclear Finland, Euroclear France, Euroclear Nederland, Euroclear
Sweden, Euroclear UK & International.
Contact Euroclear:
Thomas
Churchill / thomas.churchill@euroclear.com / +32 471 63 65
35
Pascal Brabant /
pascal.brabant@euroclear.com / +32 475 78 36 62
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SOURCE Euroclear