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Ordina/Fortis Partnership to Outsource Services

By Staff Writer

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AMSTERDAM, Netherlands (HedgeWorld.com)–Two financial service providers headquartered in the Netherlands have announced a partnership for a variety of outsourcing services–including clearing, custody, securities and banking administration.

The joint statement of Ordina NV and Fortis Bank Information Banking, March 29, said that the services “will be available on a modular basis but can be supplemented with, for instance, treasury or securities lending services.”

FBIB is part of Fortis NV. Within its home market, the Benelux area, Fortis offers a full range of financial services. Outside that home market, it focuses on selected market segments (see Previous HedgeWorld Story).

It has subsidiaries operating around the world, including Fortis Financial Services LLC, New York, a prime broker.

The Ordina/Fortis agreement “offers economies of scale to financial institutions while preserving their own identity,” said Clayton Heijman, the chief commercial officer at FBIB, in the statement.

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