NETHERLANDS - The Dutch securities bank Kas Bank has today announced the merger of its back-office units, by launching integrated back-office outsourcing service.
The new offering, provided by the company's broker services division and headed by René Hoogeland, is targeted at UK wholesale brokers operating in the major European markets, though it will be also rolled out in Germany and other "primary markets" of the firm too.
Kas Bank said in a statement today: "The new back-office function links directly to Kas Bank's cross-border clearing and settlement platform, resulting in a fully integrated offering in support of the entire post-execution process."
The bank added: "Clients will be able to deal exclusively with Kas Bank from front-office deal capture through data enrichment to cash and stock position reconciliation."
Albert Röell, the chairman of Kas Bank's managing board, suggested in a statement today he believes major financial institutions who want to increase the focus on their core activities will be interested in the new business.
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