Piraeus Bank moves international assets under custody to SIX - enhancing its Global Custody Network
SIX remains most committed to the continued strengthening of its presence in the growing Greek market. SIX focuses on delivering robust solutions and continuous innovation in an agile environment to elevate the competitive value and support the growth of its Greek clients.
This new partnership with Piraeus Bank marks a significant step forward in strengthening the presence of SIX in Greece and in the broader region. Given its strong position in the global post-trade value chain along with its business model flexibility, this new partnership will create joint value and support Piraeus Bank’s growth plan.
Javier Hernani, Head of Securities Services and SIX Executive Board Member commented “ our individualised global market access, is designed to empower Piraeus Bank’s business functionality in all asset-classes and scale of operation. Based on SIX’s multiplicity of connectivity patterns along with an enhanced multi-asset servicing model, and market-surveillance, SIX and Piraeus Bank join forces in a time of continuous industry change to ensure the highest level of performance for Piraeus Bank and its clients.”
Christos Megalou, CEO Piraeus Financial Holdings commented, “we are looking forward to this key agreement with SIX, an innovative global infrastructure. Together, we will leverage our combined strengths in the traditional and innovative securities services space. Our partnership will create value and bring more opportunities for both organisations. Joining forces with SIX will support our market expansion strategies and maximize value for our shareholders”.
SIX operates and develops infrastructure services for the Swiss and Spanish Stock Exchanges, for Post-Trade Services, Banking Services and Financial Information with the aim of raising efficiency, quality and innovative capacity across the entire value chain of the Swiss and Spanish financial centers. The company is owned by its users (120 banks). With a workforce of 4,044 employees and a presence in 20 countries, it generated operating income of CHF 1.5 billion and Group net profit of CHF 185.0 million in 2022.