- 3 min
CACEIS extends its European depositary network with a new branch in Belgium
29th July 2013
As part of CACEIS’s on-going efforts to expand the service offering for its global clientele, the group has opened a new depositary bank branch in Belgium. CACEIS is an experienced provider of depositary services in the global marketplace and its depositary network covers a broad range of countries in the European Union. By opening this new depositary bank branch, CACEIS is extending its solid expertise in providing depositary and custody services to clients operating in the Belgian market, in addition to the fund administration services CACEIS in Belgium currently provides.
With the implementation of the Alternative Investment Fund Managers Directive (AIFMD) on 22nd July 2013, the launch of CACEIS’s Brussels-based depositary bank comes at a critical moment for most asset managers and institutional clients. CACEIS’s new depositary bank will be in an excellent position to offer AIFMD-compliant services, such as assisting clients in meeting the local depositary requirements for AIFs. The bank will also be able to offer all services required by clients promoting investments under the UCITS regime. Furthermore, having received approval from the National Bank of Belgium (NBB), the Belgian financial institution supervisory body, CACEIS is now able to offer a wide range of additional asset services to clients active in the Belgian market.
Joe Saliba, Deputy CEO of CACEIS commented, “Clients have long relied upon CACEIS’s Belgian fund administration offer, and now we are bolstering that offer by bringing the group’s depositary banking and custody expertise to the Belgian market. By doing so, our clients can benefit from a full-fledged asset servicing solution. For CACEIS, our clients and their investors, the safety of invested assets is fundamental, and CACEIS’s new bank in Belgium will play a key part in ensuring the highest level of security for those assets.”
CACEIS is the asset servicing banking group dedicated to institutional and corporate clients. Through offices across Europe, North America and Asia, CACEIS offers a broad range of services covering depositary and custody, fund administration, middle office outsourcing, derivatives clearing, forex, securities lending, fund distribution support and issuer services. With assets under custody of €2.5 trillion and assets under administration of €1.3 trillion, CACEIS is one of the world market leaders in asset servicing and the largest depositary bank and the premier fund administrator in Europe (figures to 31 December 2012).
Deputy Group Communications Director
Tel.: +352 4767 2792