# Press Releases

Monday, 11th January 2021

MFEX displays continued double-digit growth

MFEX displays continued double-digit growth and new leadership with fund distribution market in steep transformation

MFEX displays continued double-digit growth

With the steady trend of large global financial players becoming more efficient by turning to service providers, MFEX continues to strengthen its position as a leading independent fund distribution platform and its strong growth trajectory with the appointment of Hans-Ole Jochumsen as new Chairman and Jean Devambez as CEO.

The B2B European fund services platform market is in rapid change and is growing steadily. Development of cross border distribution, search for higher performance, increasing operational complexity and regulatory pressure, challenges on cost and need for additional value services are some of the key factors supporting this trend. MFEX has over the past decade had a strong, above market, organic growth, and a strong track record when it comes to developing new value-added products.

Since the end of 2017, MFEX has quadrupled its assets under administration and the company has propelled to become the second largest European player. Today, MFEX is one of the key platforms for any institution seeking to outsource its operations to become more efficient.

After dedicating the last year to the integration of new business coming from acquired and organic growth, MFEX is now strongly positioned as one of the leading B2B fund platforms with assets under administration of EUR 320 billion. Over 350 institutional clients (including banks and insurance companies) use MFEX to access one of the world's largest range of funds with 80,000 funds from over 950 fund companies, as MFEX offers complete transparency between distributors and fund companies.

To further support this growth opportunity, Hans-Ole Jochumsen and Jean Devambez have been appointed as respectively board chairman and Chief Executive Officer (CEO) of MFEX effective 1st of January 2021.

Hans-Ole joined MFEX's board as Director in February 2020. He is also Chairman of Nordax Bank AB and independent director in Nykredit A/S, the second largest financial institution in Denmark. Mr Jochumsen retired from Nasdaq Inc in 2017 after 10 years, lately as Vice Chairman.

Jean joined MFEX in May 2020 as Global Chief Operating Officer from BNP Paribas Securities Services. Since joining MFEX, Jean has led the integration of new businesses, including the onboarding of strategic clients and partners, and the strengthening of the company’s operational capacity to support the development of MFEX’s core fund distribution services.

Jean’s deep knowledge of the fund distribution market and his expertise in international organizations including digital and fintech areas will be key in further developing MFEX’s standing in its key strategic markets. Together with the management team he will focus on offering distributors and fund companies a solid set of core and innovative services to increase their business opportunities within a strong compliance and risk management framework.

Previously to MFEX, Jean spent the last 12 years with BNP Paribas Securities Services as Head of Operations, Head of Product & Solutions and most recently Head of innovation and new Business model Development.

Jean Devambez comments:

“We are on a remarkable growth journey and I’m excited to become CEO of this fantastic company. I look forward to working with all employees to further develop the business and strengthen MFEX's position. There are many opportunities right now in the fund distribution market and MFEX is perfectly positioned to gain further market share.”

Christian Frick, board member of MFEX and Partner, Nordic Capital Advisors comments:

”Since Nordic Capital becoming a majority owner in 2018, MFEX has had a constant growth. The Company’s asset base has grown fourfold and MFEX has truly strengthened its position as one of the leading B2B fund platforms. The board is very pleased to welcome Hans-Ole as new Chairman and Jean as the new CEO, and we are looking forward to have them lead the company in its continued growth phase.”

About MFEX

As independent experts in global fund distribution, MFEX offers a complete solution for fund companies and distributors.

The MFEX Group was established in Sweden in 1999 and is headquartered in Stockholm with offices in Paris, Luxembourg, London, Geneva, Kuala Lumpur, Milan, Madrid, Umea, Hong Kong, Singapore and Zürich. The main supervisory authority is the Swedish Financial Supervisory Authority (Finansinspektionen).

Today, MFEX is a pan-European leader with a global presence active in 52 countries on 5 continents with more than 300 employees. The company is divided into four main business areas: Trading and custody, Distribution agreement and rebate collection, Data and fund information and Due Diligence / AML & KYC (Global Fund Watch). More information is available at www.mfex.com

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