- 3 min
Munich/Paris, January 8, 2008
As planned, CACEIS, the French bank specialised in asset servicing, took over the securities processing and custodial services of HypoVereinsbank (HVB) at the end of 2007. The transfer of the Financial Markets Service Bank GmbH (FMSB), the HVB subsidiary, which had already been contractually agreed in July 2007, was concluded notarially on December 28, 2007.
The name of the FMSB - which has hitherto carried out custody activities for HVB - will be changed to CACEIS Bank Deutschland GmbH as of February 1, 2008. A total of 550 employees will work out of its registered office in Munich and a second office in Hamburg.
HypoVereinsbank is one of the largest private banks in Germany with around 26,000 employees, 680 branch offices and over four million customers. It is a member of the UniCredit Group, which is the leading player in the economic area of Italy, Germany, Austria, and Central and Eastern Europe with over 170,000 employees, 9,000 branches and more than 40 million customers. HypoVereinsbank consists of the following divisions: Retail, Wealth Management, Corporates & CREF, and Markets & Investment Banking. The bank places particular emphasis on knowledge of the regional markets, as well as on close and intensive customer relationships. HypoVereinsbank combines these areas of focus with the competence and service capabilities of a large, internationally active bank.
CACEIS is a banking group dedicated to asset servicing: depositary and custodial services, fund administration and corporate trust services for institutional and corporate clients. Present in ten countries (France, Luxembourg, Ireland, Germany, Belgium, Switzerland, the Netherlands, United States, Canada and Bermuda) and with a total of 3,230 employees, CACEIS is one of the world's frontranking providers of custodial services with 2,3 trillion Euro in assets, and is one of the leading fund administrators with a total of 980 billion Euro in assets under administration. CACEIS is equally owned by Crédit Agricole S.A. and Natixis. www.caceis.com