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MUFG Investor Services Plan To Further Expand Presence In Cyprus After Acquisition Of Point Nine

MUFG Investor Services Plan To Further Expand Presence In Cyprus After Acquisition Of Point Nine

John Sergides, CEO at MUFG Investor Services, a subsidiary of the Mitsubishi UFJ Financial Group, speaking at the 6th International Funds Summit, announced their plans to further expand their presence in Cyprus, which includes the acquisition of the Cypriot fintech Point Nine in 2019 by the Mitsubishi UFJ Financial Group.


Point Nine was founded in 2002 by Pavlos Christophorou and Ioannis Matsis. Having realised the potential of online remote services and wanting to tap into an underdeveloped industry, they set their sights on the fintech industry. They developed the tool Circle, a post trade processing platform that process data from various sources, covers all asset classes, translates and submits the reports to regulatory bodies in the format required and also handles acknowledgment messages. In 2009, after having first operated in the London fintech scene, the company moved in Limassol. Point Nine became leaders in post-trade execution, operation, processing and reporting, which what was attracted the Mitsubishi Group.


It’s worth mentioning, in numbers, the size of the Group. Specifically, their assets amount to US$2,7 trillion, while it has more than 350 years of banking history and 90 years of experience in custody services. Its investment arm, MUFG Investor Services, offers services to 2,075 investment funds, with assets under management exceeding US$579 billion.

 

 

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