Calastone to push Transfer Service to Europe

Funds transaction network provider Calastone is set to push its recently launched stock transfer service to the Continental European wealth management market, having announced the adoption of Transfer Service by Investec Wealth & Investment for the UK market.

Rathbone Investment Management is another predominantly UK client that has already adopted the service, which comes in the wake of the UK’s Retail Distribution Review mandated changes to speed up transfer processes.

Jon Willis, chief commercial officer at Calastone said: “We are delighted to see large UK wealth management firms such as Investec Wealth & Investment and Rathbone Investment Management use our Transfer Service. As a global transaction network we look forward to extending the use of this service into Europe so that our European clients can also benefit from automated and more efficient stock transfers.”

Calastone’s Transfer Service is intended to provide users with the ability to process stock transfers within days. Ann Mosey, head of Settlements, Investec Wealth & Investment said the user of Transfer Service was driven by the objective of completing the majority of transfers within a day.

 

 

 

 

ABOUT THE AUTHOR
Jonathan Boyd
Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope. Jonathan has over two decades of media experience in Japan, Australia, Canada and the UK. Over the past 17 years he has been based in London writing about funds and investments. From editing the newsletter of the Swedish Chamber of Commerce in Japan in the 1990s he now focuses on Nordic markets for InvestmentEurope. Jonathan was awarded Editor of the Year at the Professional Publishers Association (PPA) Independent Publisher Awards 2017. Shortlisted for the same in 2016, he was also shortlisted in 2017 and 2015 for the broader PPA Awards category Editor of the Year (Business Media).

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