Fintech PR

Euroclear delivers strong performance in 2023

Published

10 months ago

February 1, 2024

CISION (PR Newswire)

euroclear-delivers-strong-performance-in-2023

BRUSSELS, Feb. 1, 2024 /PRNewswire/ — Results for the year ending 31 December 2023

Financial highlights

Euroclear continues to separate Russian sanction-related earnings from the underlying financial results and retain these profits until further guidance is provided on the distribution or management of such profits.

Underlying business income reached a record EUR 1,658 million, an increase of 3% year-on-year.
Underlying net profit increased by 63% to almost EUR 1 billion, driven by a robust business performance and a high interest rates environment.
Underlying operating expenses increased by 14% to EUR 1,290 million, on higher inflation and increased investments in line with our strategic ambition to develop digital capabilities and IT infrastructure. The impact of inflation on the group’s workforce and non-payroll related costs accounted for an increase of around 5% compared to 2022.
Net interest earnings amounted to EUR 5.5 billion, of which EUR 4.4 billion relate to interests linked to Russian sanctions.
The Russian sanctions and countermeasures resulted in direct costs of EUR 62 million and a loss of business income of EUR 24 million.
Group impairments were recorded in 2023 totalling EUR 125 million, principally related to the impairment of part of the goodwill of our Swedish CSD. The harsher economic conditions and reduced volumes combined with an increase in costs are expected to persist, leading to reduced long-term projections. This has resulted in an impairment of EUR 100 million of the goodwill of the group’s Swedish CSD.
Euroclear achieved an underlying EBITDA margin of 57.4%, an increase of 9.7 percentage points compared to 2022.
Underlying earnings per share rose by 63% to EUR 312.1 per share, reflecting the continued increase in net profit.
The Board proposes to pay a dividend per share of EUR 210 in the third quarter of 2024. This represents an increase of 82% and maintains the pay-out ratio at 60% of the underlying earnings.

Lieve Mostrey, Chief Executive Officer of Euroclear Group, commented:

“2023 was another turbulent year, with geopolitical tensions impacting our macro-economic reality and the global capital markets. In times of complexity and market uncertainty, it is rewarding to know that our diverse client base continues to rely on us for safety and efficiency in processing and safeguarding their assets.

In 2023, we reached a record underlying business income of EUR 1,658 million and an underlying net profit of almost EUR 1 billion, driven by a robust business performance and a high interest rates environment. We also made solid progress in delivering on our strategic objectives, maintaining our focus on clients, while further developing ESG, data and digital capabilities, and continuing to grow our business internationally. Key achievements include the launch of the Digital Securities Issuance (D-SI) service, the successful connection of Euroclear Bank and Euroclear Finland to the European Central Bank’s T2S settlement system and the opening of a new Tech Hub in Krakow, allowing us to create 400 new jobs.

As we recently announced a leadership transition and the selection of Valérie Urbain as my successor, this is my last set of full-year results as CEO of Euroclear. I would like to take this opportunity to thank our colleagues across the entire group for their commitment and dedication in delivering another robust performance, servicing our clients and contributing to preserve the certainty, fluidity, and safety of our markets.”

Financial overview

Euroclear Holding

(€ m)

FY 2022

Russian
sanctions
impacts

FY 2022
Underlying

FY
2023

Russian
sanctions
impacts

FY 2023
Underlying

Underlying
vs 2022

Operating income

2,769

814

1,955

7,171

4,400

2,771

816

42 %

– Business income

1,600

-7

1,607

1,634

-24

1,658

3 %

– Interest, banking &
other income

1,170

821

348

5,537

4,424

1,113

765

219 %

Operating expenses

-1,152

-20

-1,133

-1,351

-62

-1,290

-157

-14 %

Operating profit
before Impairment

1,617

795

823

5,820

4,339

1,481

658

80 %

Impairment

-12

-1

-12

-125

-113

Pre tax profit

1,605

794

811

5,695

4,339

1,356

545

67 %

Tax

-405

-197

-208

-1,459

-1,085

-374

-166

-80 %

Net profit

1,200

597

603

4,236

3,254

982

380

63 %

EPS

381.3

191.5

1346.0

312.1

Business income
operating margin

28.0 %

29.5 %

17.3 %

22.2 %

EBITDA margin
(EBITDA/oper.income)

62.3 %

47.7 %

82.7 %

57.4 %

Robust business performance in subdued market conditions
With a record underlying business income of EUR 1,658 million (+ 3% year-on-year), Euroclear continues to deliver growth despite subdued market conditions. In contrast with 2022, which was characterised by volatile markets following the invasion of Ukraine, 2023 saw market activity slightly decrease while equities valuations recovered. Fixed-income issuance performed well. The diversification of Euroclear’s business continues to provide resilience thanks to its subscription-like model as approximately three quarters of the group’s business income is decoupled from financial market valuation.

Eurobond and European assets performance resulted from solid issuance and partial recovery of equities valuations, in spite of lower levels of trading compared to last year in most markets.
The investment funds business also suffered from lower activity mainly impacting mutual funds. ETF investment remained strong.
Revenue emanating from the Collateral Highway increased despite reduced volumes for lending and borrowing.
Global and Emerging Markets performance remained solid amid interest in new, emerging markets.

Key business drivers
	FY2022	FY2023	YoY evolution	3-year CAGR Advertisement
Assets under custody	€35.5 trillion	€37.7 trillion	+6 %	+4.8 %
Number of transactions	304 million	299 million	-2 %	+2.8 % Advertisement
Turnover	€1,066 trillion	€1,072 trillion	+1 %	+6.1 %
Fund assets under custody	€2.8 trillion	€3.1 trillion	+10 %	+6.5 % Advertisement
Collateral highway	€1.79 trillion	€1.67 trillion	-7 %	+2.7 %
Underlying cash deposits (year average)	€25.8 billion	€23.7 billion	-8 %	+4.8 % Advertisement

Quarterly evolution of key business drivers
	Q1 2023	Q2 2023	Q3 2023	Q4 2023
Assets under custody (in EUR billion)	36,586	36,830	36,952 Advertisement	37,714
Number of transactions (in million)	79.10	72.98	71.69	75.47
Turnover (in EUR billion)	281,091	265,108	266,905 Advertisement	259,382
Fund assets under custody (in EUR billion)	2,902	2,989	3,014	3,111
Collateral highway (in EUR billion)	1,747	1,678	1,668 Advertisement	1,670
Underlying cash deposits (in EUR billion)	25.5	25.4	22.1	22.0

In 2023, Euroclear progressed the renewed Group Strategy announced in 2022, laying the foundations for the next phase of Euroclear’s diversification and growth.

Embracing digital assets
In line with Euroclear’s aspiration to become a digital and data-enabled financial market infrastructure, a D²-FMI, it launched its new Digital Securities Issuance (D-SI) service in September 2023.

The service enables the issuance, distribution and settlement of fully digital international securities – Digitally Native Notes (DNN) – on distributed ledger technology (DLT). The inaugural DNN was issued by the World Bank, raising EUR 100 million to support its sustainable development activities. The DNN is automatically linked to the traditional settlement platform of Euroclear for secondary market operations, ensuring investors full access to liquidity.

Separately, in December 2023, Fnality, an international consortium of banks and financial institutions, including Euroclear, announced it had completed the first blockchain payments at the Bank of England. Fnality aims to bring central bank money in a digital tokenized form with near-real-time 24/7 settlement capability to allow banks to significantly reduce their intraday liquidity requirements.

Growing the funds business

Building on its acquisitions of MFEX and Goji, Euroclear has continued to enhance its service offering in investment funds with the launch of a new service targeting private market funds. Leveraging Goji’s capabilities and the FundSettle platform, the new service complements Euroclear’s existing money market, mutual and alternative fund offerings. The launch of the new service also follows the gradual inclusion of MFEX’s distribution and data services into the FundSettle platform.

To further streamline Euroclear’s funds offering and reflect its ambition to create a true one-stop-shop offering to clients across the full spectrum of funds products, Euroclear’s funds offering transitioned to a new brand name, Euroclear FundsPlace.

Euroclear also continued to deploy innovative services for fund distributors globally. In 2023, several clients from Europe and Asia chose Euroclear’s fund platform for the onboarding of their investment funds. Euroclear provides a one-stop-shop solution for fund distribution and execution services via its extensive network, allowing these clients to have access to more than 100,000 funds.

Forging stronger connections

Euroclear fully supports the need for integrated, deep and liquid capital markets within the European Union. As a common settlement platform for Europe, the European Central Bank’s TARGET2-Securities (T2S) system underpins this harmonised environment.

Euroclear Bank and Euroclear Finland successfully completed the connection to the European Central Bank’s T2S settlement system in late 2023. By joining this common infrastructure, the Finnish CSD can offer its users delivery-versus-payment settlement of securities and cash in euro and Danish krone central bank money.

Euroclear also continues to grow its international ecosystem in Asia. Euroclear Bank and the Korea Securities Depository took further step in making the Korean market “Euroclearable” by signing an agreement to open an omnibus account structure in August 2023. The link will allow international investors efficient post-trade access to KTBs.

Acting responsibly

In 2023, Euroclear continued to build on its strong ESG foundations established in previous years. It has started work on implementing the principles laid out in its ESG Board policy and begun to measure progress against the ESG KPIs which were approved in early 2023. Euroclear has made progress against its commitments in many areas, meeting its supply-chain screening targets, receiving approval for its targets from the Science Based Targets initiative (SBTi) and broadening its training offer. Actions are ongoing to integrate ESG into its current service offering, together with its business partners Impact Cubed and Greenomy.

Within its workplace, Euroclear aims to foster a healthy, performant and learning-orientated corporate culture. Last year, Euroclear onboarded 800 new employees and started to work with the World Economic Forum as one of its partners for ‘The Good Work Alliance’ which commits to building a more resilient, equitable, inclusive and just future of work.

Shareholder evolution
In recent years, Euroclear’s shareholder base has evolved from its traditional “user-owned” model to include a greater proportion of longer-term institutional investors. In 2023, the group welcomed two new shareholders: New Zealand Super Fund and Novo Holdings, each holding 4.99% and 3.22% respectively.

Furthermore, two of Euroclear’s main shareholders reinforced their holding last year. Société Fédérale de Participations et d’Investissement (SFPI/FPIM) acquired 1.79% from various sellers, and now holds 12.92%, while Caisse des Dépôts et Consignations (CDC) increased its holding by 4.19%, and now holds 10.91%.

The long-term investment vision and commitment of this increasingly diversified shareholder base strengthens Euroclear’s position as a neutral and open financial market infrastructure.

CEO transition
As announced on 15 January 2024, Valérie Urbain has been chosen by the Board as the successor to Lieve Mostrey as Chief Executive Officer of the Euroclear group. Having received the relevant regulatory approvals, Lieve Mostrey and Valérie Urbain will ensure a smooth and orderly transition period until the renewal of the Euroclear Board member mandates at the General Meeting on 3 May 2024.

Lieve Mostrey has led Euroclear as group CEO since January 2017. Under her tenure, Euroclear grew its business, expanded its global footprint, enriched its funds offering notably through the acquisitions of MFEX and Goji and accelerated value creation for shareholders, while at the same time securing CSDR licenses for each of its operating entities.

With over 30 years of experience at Euroclear in a variety of senior roles, including as Head of Human Resources of Euroclear Group, CEO of Euroclear Bank and most recently as Chief Business Officer, Valérie brings unparalleled knowledge of Euroclear, clients and market trends. She has been a key architect of its successful business strategy.

Update on Russian sanctions and countermeasures
The number of sanctions and countersanctions that have been introduced since February 2022 are unprecedented and continue to have a significant impact on the daily operations of Euroclear. While new sanctions were issued at a declining pace in 2023, these still resulted in more breakage of straight-through process and increased manual interventions.

Well-established processes are in place which allow the group to implement the sanctions, while maintaining the normal course of business. However, one consequence of the sanctions is that blocked coupon payments and redemptions owed to sanctioned entities results in an accumulation of cash on Euroclear Bank’s balance sheet. At the end of 2023, Euroclear Bank’s balance sheet had increased by EUR 38 billion year-on-year to a total of EUR 162 billion.

Euroclear’s priority has been to manage the sanctions according to the spirit and letter of the law. As per Euroclear’s standard procedures, Euroclear does not remunerate cash balances and such cash balances are re-invested to minimise risk and capital requirements. Prudent management of such risks is a requirement under Euroclear’s Risk Appetite and Policies and expected by the EU Capital Requirements Regulation. The interest received on the reinvestment of cash balances is net interest income earned by Euroclear.

In 2023, interest arising on cash balances from Russia-sanctioned assets was approx. EUR 4.4 billion. Such interest earnings are driven by two factors: (i) the prevailing interest rates and (ii) the amount of cash balances that Euroclear is required to invest. Subject to Belgian corporate tax, these earnings will generate EUR 1,085 million tax revenue for the Belgian State in 2023. As such, future earnings will be influenced by the evolving interest rate environment and the size of cash balances as the sanctions evolve.

Since considerable uncertainties persist, Euroclear considers it necessary to separate the estimated sanction-related earnings from the underlying financial results when assessing the company’s performance and resources.

Euroclear is faced with a high level of complexity in managing both the wide-ranging package of sanctions and a set of countermeasures, which Russia has implemented to try to mitigate the impact of the sanctions. Euroclear allocates considerable time, resources and capital to manage market issues, potential risks and implications of these countermeasures, while maintaining regular dialogue with clients and other stakeholders.

Overall, Euroclear incurred additional direct costs from the management of Russian sanctions of EUR 62 million in 2023, with considerable senior management and Board focus on the topic. Additionally, the international sanctions and Russian countermeasures have resulted in a loss of activities from sanctioned clients and Russian securities, which negatively impacted business income by EUR 24 million.

2023 also saw various parties contest the consequences of the application of sanctions, with a significant number of legal proceedings ongoing, almost exclusively in Russian courts. Claimants have initiated legal proceeding aiming mainly to access the assets blocked in Euroclear’s books. Despite all legal actions taken by Euroclear and the considerable resources mobilised, the probability of unfavourable rulings in Russian courts is high since Russia does not recognise the international sanctions. Euroclear will continue to defend itself against all legal claims.

In parallel, the Board notes that the European Commission is contemplating various options to use the profits generated by the reinvestment of sanctioned amounts held by financial institutions, including Euroclear, for the financing of Ukraine’s reconstruction.

Euroclear is focused on minimising potential legal and operational risks that may arise for itself and its clients from the implementation of any proposals from the European Commission. The company continues to act in a transparent manner with all authorities involved and to retain profits related to the international sanctions applicable on Russian assets until further guidance is provided on the distribution or management of such profits.

Euroclear continues to monitor and assess the potential impact of post balance sheet events on its 2023 financial statements.

Annexes

Cash balances related to Russian sanctions

Infographic – https://mma.prnewswire.com/media/2331196/Euroclear_1.jpg

“Business as usual” cash balances

Infographic – https://mma.prnewswire.com/media/2331195/Euroclear_2.jpg

Euroclear Bank and Euroclear Investments are the two group issuing entities. The summary income statements and financial positions at Q4 2023 for both entities are shown below.

Figures in Million of EUR		Q4 2023	Q4 2022	Variance

Euroclear Bank Income Statement (BE GAAP)

	Net interest income Advertisement	5,506.3	1,199.1	4,307.2
	Net fee and commission income	1,085.8	1,033.7	52.1
	Other income	22.2	-5.2 Advertisement	27.4

	Total operating income	6,614.3	2,227.6	4,386.6

	Administrative expenses	-866.3	-696.8	-169.5

	Operating profit before impairment and taxation Advertisement	5,747.9	1,530.8	4,217.1

	Result for the period	4,295.1	1,147.6	3,147.5

Euroclear Bank Statement of Financial Position

	Shareholders’ equity	6,897.2 Advertisement	2,953.4	3,943.8
	Debt securities issued and funds borrowed (incl. subordinated debt)	4,522.6	5,399.0	-876.5
	Total assets	161,567.3	123,569.9	37,997.3 Advertisement



Euroclear Investments Income Statement (BE GAAP)		Q4 2023	Q4 2022	Variance

	Dividend	395.5	313.4	82.1
	Net gains/(losses) on financial assets & liabilities	14.7 Advertisement	-2.9	17.6
	Other income	0.0	-0.1	0.1
	Total operating income	410.2	310.3	99.9 Advertisement

	Administrative expenses	-1.3	-4.5	3.1

	Operating profit before impairment and taxation	408.9	305.9	103.0

	Result for the period	405.1 Advertisement	306.0	99.1

Euroclear Investments Statement of Financial Position

	Shareholders’ equity	699.4	666.4	33.1
	Debt securities issued and funds borrowed	1,656.5	1,655.1 Advertisement	1.4
	Total assets	2,356.1	2,321.9	34.2

Euroclear Investments has been relocated from Luxembourg to Belgium on 31 December 2022 at midnight. The financial statements are now prepared under Belgian GAAP, and the 2022 figures have been restated accordingly.

Note to editors

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 CSD, as well as Euroclear Belgium, Euroclear Finland, Euroclear France, Euroclear Nederland, Euroclear Sweden and Euroclear UK & International.

Contact:

Thomas Churchill
[email protected]
+32 471 63 65 35

Pascal Brabant
[email protected]
+32 475 78 36 62

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Fintech PR

MARINTEC INNOVATION CONFERENCE 2024: Charging the Future with Alternative Energy Sources

Published

2 hours ago

November 26, 2024

CISION (PR Newswire)

marintec-innovation-conference-2024:-charging-the-future-with-alternative-energy-sources

HONG KONG, Nov. 26, 2024 /PRNewswire/ — Gear up for Marintec Innovation Conference 2024, the definitive maritime technology and innovation event organised by Informa Markets and SSNAME, happening on 12 – 13 December at the Shanghai Renaissance Zhongshan Park Hotel. This year’s theme, “Alternative Energy and Fuels Contribute to Low Carbon Maritime,” underscores the industry’s dedication to sustainable practices and groundbreaking advancements.

Distinguished Speakers and Industry Experts

Prepare to be inspired by an impressive lineup of speakers from some of the most influential organisations in the maritime industry. These panels will delve into critical topics such as:

“Alternative Energy and Fuels Review and Outlook”: Exploring the latest developments in renewable energy sources and their integration into maritime operations.
“Sailing Efficiency – Shipowner’s Perspective”: Offering practical strategies for improving operational efficiency from leading shipowners.
“Industry Chain Support”: Highlighting the collaborative efforts across the maritime value chain to support these innovations.

Notable speakers include:

ABB Marine & Ports, Switzerland: Mr. Meng Desheng, Sales Director
Alfa Laval (Shanghai) Technologies Co Ltd, Denmark: Mr. James Le, President of Marine Division
China Association of the National Shipbuilding Industry, China: Mr. Li Yanqing, Secretary General
China Merchants Energy Shipping, China: Mr. Wu Jianyi, Technical Director
CSSC Shanghai Marine Energy Saving Technology Co Ltd, China: Mr. Zhang Xiaosong, Deputy Chief of R&D Department
CSSC Silent Electric System (Wuxi) Technology Co Ltd, China: Mr. Guo Wei, Deputy General Manager
DNV, Norway: Mr. Jason Liu Xiaofeng, Head of Smart Centre / Deputy Head of Technical Centre China
Headway Technology Group (Qingdao) Co Ltd, China: Mr. Zhang Zongkai, Project Manager of the R&D Center
Inmarsat Maritime, United Kingdom: Mr. William Ku, Regional Director, Asia Pacific
International Chamber of Shipping – ICS, United Kingdom: Mr. Guy Platten, Secretary General
International Windship Association – IWSA, United Kingdom: Mr. Gavin Allwright, Secretary General
Jotun, Norway: Mr. Christer Lorentz Øpstad (Ph.D.), Global R&D Director – Fouling Protection
Kongsberg Maritime, Norway: Mr. Carl Magne Rustand, Country Manager – Greater China
Maersk, Denmark: Mr. Karim Fahssis, Maersk Decarbonisation China Head
RINA Italy Classification Society (China) Co Ltd, China: Mr. Fang Peng, Head of RINA Greater China Excellence Centre
Trelleborg Marine Engineering (Qingdao) Co Ltd, China: Mr. Andrew Stafford, Technical Director
Ulstein, Norway: Mr. Kirk Du, Deputy Managing Director
Wikborg Rein Advokatfirma AS: Mr. Bård Bjerken, Managing Associate and Shanghai Representative

These panel discussions will provide attendees with invaluable insights and practical knowledge from leading experts, fostering a deeper understanding of the challenges and opportunities in the maritime sector.

Innovation on Display

In complement to the compelling sessions and expert speakers, the event will feature sponsors such as Bestway, Bicentric Technology, Shanghai Moury Marine Equipment, Shanghai SIBO Automation, Shanghai Tonghe Marine Equipment, Sonyo Appliances Refrigeration System, Zhenjiang Tongzhou Propeller and others showcasing their cutting-edge innovations.

A Hub for Maritime Innovation

Over and above the conference sessions, the Marintec Innovation Conference 2024 will offer numerous networking opportunities, including dedicated networking sessions and an exclusive closing dinner. These events will enable attendees to build valuable connections, exchange ideas, and forge partnerships that will drive the future of maritime technology.

Registration and Additional Information

Registration for the Marintec Innovation Conference 2024 is now open. For more information about the conference program and speakers, please visit the official conference website at www.marintecchina.com.

Call to Action

It is time to invest in and adopt alternative energy. By working together, we can meet the challenges and lead the industry into a sustainable, zero-carbon future. This conference is a movement towards a greener world for generations to come.

Marintec Innovation Conference Background:

Following its inaugural edition in 2017 during Marintec China, the Marintec Innovation Conference will be held in December of even-numbered years at the Shanghai Renaissance Zhongshan Park Hotel. Organised by Informa Markets and SSNAME, Marintec Innovation continues to provide a unique platform for fostering interactions on diverse findings and advancements in the maritime industry through collaboration and knowledge sharing.

Marintec Innovation’s Themes

2017: Cruise Shipbuilding at Marintec China
2018: International Marine Intelligent Energy Efficiency Technology
2020: The Fourth Industrial Revolution at Sea
2022: Defining the Path to Decarbonisation
2024: Alternative Energy and Fuels Contribute To Low-carbon Maritime

Organisers of Marintec China:

Marintec China is organised and managed by Informa Markets and Shanghai Society of Naval Architects & Marine Engineers (SSNAME).

Informa Markets

Informa Markets creates platforms for industries and specialist markets to trade, innovate and grow. Our portfolio is comprised of more than 550 international B2B events and brands in markets including Healthcare & Pharmaceuticals, Infrastructure, Construction & Real Estate, Fashion & Apparel, Hospitality, Food & Beverage, and Health & Nutrition, among others. We provide customers and partners around the globe with opportunities to engage, experience and do business through face-to-face exhibitions, specialist digital content and actionable data solutions. As the world’s leading exhibitions organiser, we bring a diverse range of specialist markets to life, unlocking opportunities and helping them to thrive 365 days of the year. For more information, please visit www.informamarkets.com

Shanghai Society of Naval Architects and Marine Engineers (SSNAME)

Shanghai Society of Naval Architecture and Marine Engineers (SSNAME), founded in early 1951, is the first scientific and technological society in the field of shipbuilding and marine engineering of the People’s Republic of China. SSNAME currently has 5,000 individual members and more than 60 group members. It has 5 working Committees, 11 Specialized Committees and 3 Representative offices. As an important non-governmental scientific and technological society with high reputation and influence in the international field of shipbuilding and marine engineering, SSNAME has been committed to promoting the progress of shipbuilding and marine engineering technology and international exchanges and cooperation. SSNAME has established closely cooperative relations with 14 well-known overseas maritime engineering societies, such as SNAME, RINA, STG, JSNAOE, SNAK and so on. It is the initiator and first chairman of the Pan-Asian Association of Maritime Engineering Societies (PAAMES) and is also a member of the International Standing Committee of the World Maritime Technology Conference (WMTC). The “Xin Yixin Ship and Marine Engineering Science and Technology Innovation Award” founded by SSNAME has become an important award for scientific and technological talents. SSNAME organizes many academic exchanges, popular science and scientific and technological publication every year. For more information, please visit www.ssname.com.cn.

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Fintech PR

Tabono Capital Announces Strategic Partnership with Invesco to Deliver Enhanced Investment Solutions for UHNW Clients

Published

5 hours ago

November 26, 2024

CISION (PR Newswire)

SINGAPORE, Nov. 26, 2024 /PRNewswire/ — Tabono Capital today has announced a strategic partnership with Invesco that enhances investment solutions for ultra-high-net-worth clients.

Tabono Capital, a multi-family office based in Singapore, collaborates with Invesco, a global investment management leader with over US$1.7 trillion in assets under management. This partnership merges Invesco’s institutional-grade investment expertise, cutting-edge portfolio solutions, and comprehensive research capabilities with Tabono Capital’s strong relationships with ultra-high-net-worth (UHNW) families across the Asia Pacific and Middle East regions.

This collaboration enables Tabono Capital’s clients to benefit from the extensive resources and scale of Invesco’s capabilities. For Invesco, the partnership provides enhanced access to sophisticated investors in key growth markets.

Key elements of the partnership include:

Implementation and construction of model portfolios and asset allocation frameworks
Access to institutional-grade investment research and comprehensive market insights for UHNW clients
Knowledge sharing and collaboration on market intelligence and investor insights

Nirish Unni, CEO & Co-Founder of Tabono Capital, emphasized the significance of the partnership: “This partnership represents a significant milestone in our growth strategy. By leveraging Invesco’s world-class investment research and asset allocation capabilities, we can provide our clients with institutional-grade investment solutions while maintaining the personalized service they expect from a boutique multi-family office.”

Santosh Rao, Co-Founder and Chief Revenue Officer of Tabono Capital, added: “Our clients increasingly seek institutional-quality investment solutions with global reach. This collaboration with Invesco allows us to deliver exactly that, while maintaining our personalised approach to client service. Together, we will create portfolios designed to capture opportunities in key global markets while effectively managing risk.”

Christopher Hamilton, Asia Pacific Head of Client Solutions for Invesco, stated: “We’re proud to partner with Tabono Capital to bring our industry-leading offerings and capabilities to Asia’s expanding family office and UHNW segment. This is a compelling platform for investors to access comprehensive strategies that can help them meet their financial goals.”

About Tabono Capital

Tabono Capital is a multi-family office headquartered in Singapore, licensed by the Monetary Authority of Singapore (MAS) to provide Fund Management services. Co-founded by industry veterans and former private wealth managers Nirish Unni and Santosh Rao, the firm caters to ultra-high-net-worth families across the Asia Pacific and MENA regions, offering comprehensive wealth management and family office solutions. For more information, visit https://tabonocapital.com

Contact: [email protected]

About Invesco

Invesco Ltd. (NYSE: IVZ) is a global independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. With offices in more than 20 countries, our distinctive investment teams deliver a comprehensive range of active, passive and alternative investment capabilities. For more information, visit www.invesco.com/corporate.

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Fintech PR

Protecht launches advanced controls management solution

Published

12 hours ago

November 25, 2024

CISION (PR Newswire)

SYDNEY, Nov. 25, 2024 /PRNewswire/ — Protecht Group, a global leader in enterprise risk management solutions, has released its innovative controls management solution. This cutting-edge tool empowers organizations to design, implement, and maintain a robust controls framework, streamlining compliance and enhancing operational efficiency.

Protecht’s controls management solution addresses the challenges faced by risk and compliance leaders in managing controls across complex regulatory environments. By integrating controls management into the organization’s broader ERM framework, the solution provides a centralized approach to mitigate risks, achieve compliance, and enable organizations to focus on strategic growth.

As organizations face increasing regulatory pressures, the need for a unified, efficient approach to controls management has never been greater. Many businesses struggle with fragmented processes, duplicated efforts across frameworks, and limited visibility into controls effectiveness. Protecht’s controls management solution simplifies these complexities by providing a single source of truth for controls assurance activities.

Key features of Protecht’s controls management solution

Centralized controls library: Offers a single repository for all control data, tailored to align with organizational needs and regulatory frameworks.
Simplified control testing: Streamlines the testing process with pre-built templates, automated scheduling, and real-time tracking of progress and results.
Framework library: Enables seamless mapping between controls and multiple regulatory standards to eliminate redundancies and simplify compliance efforts.
Advanced reporting and dashboards: Provides real-time insights into control effectiveness and areas requiring improvement, ensuring confidence in decision-making and risk management strategies.

“Protecht’s Controls Management solution simplifies the way organizations handle compliance and risk assurance,” says Damien Stevens, Chief Product & Marketing Officer at Protecht. “By integrating controls into the broader enterprise risk framework, we provide our customers with the tools they need to mitigate risks, optimize efficiency, and align their control environments with their strategic objectives.”

Supporting resources

To help organizations maximize the benefits of the new solution, Protecht offers a range of resources, including:

Live webinars showcasing the solution’s capabilities for risk and IT professionals alike
Product tours showing how the solution lets you solve specific controls-related problems
A comprehensive eBook on building effective controls frameworks
Opportunities to book a demo and see the solution in action

Find out more and download a brochure at www.protechtgroup.com/solutions/controls-management

About Protecht Group

Headquartered in Sydney, Australia, with offices in London and Los Angeles, Protecht Group provides innovative risk management solutions, including the Protecht ERM platform. Trusted by organizations across government, financial services, education, and other industries, Protecht empowers businesses to manage risk holistically, transitioning from spreadsheets and manual processes to efficient, integrated systems.

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