Dutch bank ABN Amro has bought the Portuguese securitisation company Servimedia SGFTC from Banco Comercial Portugues (BCP), to consolidate servicing capabilities for securitisation clients in the region.Jointly established by ABN and BCP in 2001, Servimedia was Portugal's first securitisation fund management company. Since then it has emerged as the largest securitisation company in Portugal, with the most securitisation transactions under management. The company has been renamed Oceanus SGFTC, to reflect the new ownership and management by ABN Amro.
"This acquisition enables us to enhance our servicing capabilities for securitisation clients, optimising our position in the new issues markets for corporates, financial institutions and public sector entities," says Jose Sanchez, ABN's country representative for Portugal.
More on Foreign Exchange
Importers will increase hedging activity amid greater rupiah volatility
European banks start clearing in India despite no EU equivalency ruling
Market disruption averted as unanimous decision goes in CLS's favour
Corporates were under-hedged due to high cost of carry versus dollar
Sign up for Risk.net email alerts
Nominated for two technology awards
Nominated for post trade technology award
Sponsored webinar: Collateral and counterparty tracking
Isda directors warn on fragmentation, access and liquidity - but expect problems to pass
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.