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CACEIS extends its European depositary network with a new branch in the Netherlands
As part of CACEIS’s on-going efforts to enhance the service offering for its global clientele, the group has opened a new depositary bank branch in the Netherlands. 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 exporting its extensive expertise in providing depositary and custody services to clients operating in the Dutch market, in addition to the fund administration services CACEIS in the Netherlands currently provides.
As the Alternative Investment Fund Managers Directive, (AIFMD) is to be implemented on 22nd July 2013, the launch of CACEIS’s Amsterdam-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. Furthermore, having received approval from De Nederlandsche Bank (DNB), the Dutch financial supervision body, CACEIS is now able to offer a wide range of asset services to clients active in the Dutch market.
Joe Saliba, Deputy CEO of CACEIS commented, “By bringing our depositary banking and custody expertise to the Dutch market, and combining it with our pre-existing fund administration offering, we are taking another step towards our strategic goal of providing clients with a full service offering in all markets where they operate. Asset safety is a key consideration for our clients as well as their end-investors, and CACEIS in the Netherlands will play an important role 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).
Managing Director, CACEIS, Netherlands
Tel.: +31 (0)20 5308 319
Deputy Group Communications Director
Tel.: +352 4767 2792