SIX and Piraeus Bank Enter into Partnership in the Securities Services Area

SIX, which operates the infrastructure for the Swiss and Spanish financial centers, and Piraeus Bank, Greece's leading lender, have entered into a partnership in the securities services area. Piraeus Bank is moving its international assets under custody to SIX in order to enhance its global custody network.

The collaboration with Piraeus Bank represents a significant advancement in enhancing SIX's presence in Greece and in the broader region. Meanwhile, with SIX's strong position in the global post-trade value chain and its its business model flexibility, this partnership will generate mutual value and provide support for Piraeus Bank's growth strategy.

Christos Megalou, CEO at Piraeus Bank, said: "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."

Javier Hernani, Head of Securities Services and SIX Executive Board Member, said: "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."

SIX has been expanding its reach. Last October, SIX announced the launch of local custody services in Spain​, further enhancing its presence in the region.