In line with its global growth strategy across all its main businesses, SIX Group is opening an office in the US for its post-trade clients.
The development follows the geographical expansion of both SIX’s exchanges division and its post-trade business to the Spanish market and is likely to herald the establishment of a physical presence in other markets as part of its growth strategy, whether organically or through acquisition where the opportunity arises.
The US office will not engage in US-based operational processing activities, but will essentially be client-facing, covering relationship management, market intelligence and some day-to-day on-the-ground client servicing support.
It will be led by René Haag and, according to Javier Hernani, head, securities services at SIX, will “provide its customers with time zone bespoke support, gather relevant market intelligence across the continent, build up relevant American market know-how and make such know-how available to Swiss, internationally and also locally domiciled clients and prospects.”
Stephan Hänseler, head, SIX SIS, described the development as an opportunity for US-based financial institutions to gain access to all European and Asian markets across a broad range of asset classes with one contractual relationship.
In addition to reinforced support for US-based clients, a SIX spokesperson told Global Custodian that non-US clients will benefit from additional, independent local market intelligence, proximity and insights. “In addition, non-US clients benefit from additional US-based subject matter experts that will extend support and respond to timely, sensitive market-specific inquiries during US business hours,” he added.