Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Rathbones partners Euroclear for automated fund settlement

Rathbones partners Euroclear for automated fund settlement

Rathbone Brothers has automated its fund settlement process in conjunction with Euroclear UK & Ireland.

Euroclear is now the sole processing provider for the settlement of fund units and related cash movements within the entire Rathbones group.

Andrew Butcher, chief operating officer at Rathbones, said that Euroclear’s system ‘makes perfect sense’ for the firm.

‘It is fully scalable as we can integrate the processes with our UK equity settlements,’ Butcher (pictured) explained.

‘We are custodian for £22 billion of client assets, so having the benefit of full registry reconciliation transparency which automated settlement affords, plus easier cash management through the Crest cash memorandum account, will prove highly beneficial to our operations teams.’

John Trundle, chief executive officer of Euroclear UK & Ireland, added that Rathbones ‘is smart to move to automated transactions settlement’ with his company.

‘Rathbones avoids the risks, costs and reconciliation complications of manual cash processing when payments are decoupled from the unit movements,’ Trundle said.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Rathbones' Smith on China's economic hegemony ambitions

Rathbones' Smith on China's economic hegemony ambitions

Discussing China's saving problem, Ed Smith argues that if the country opens up there will be an outflow of capital.

Play Liontrust ESG head says sustainable investment doesn't mean low return

Liontrust ESG head says sustainable investment doesn't mean low return

Peter Michaelis talks about ethical investment growth and where he sees future opportunites.

Play Are platforms the biggest barrier to wealth manager ETF take-up?

Are platforms the biggest barrier to wealth manager ETF take-up?

Citywire hosted a roundtable discussion to find out how and if wealth managers are using ETFs in their clients' portfolios and the challenges they face trading through different platforms.

Read More
Wealth Manager on Twitter