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The MACSF group selects CACEIS as its Asset Servicing provider
CACEIS has become the new custodian account holder for the MACSF group, following a tender process run by the MACSF in conjunction with the consultancy firm, Pilcer.
The MACSF group took the decision to entrust CACEIS with custody account holding for its portfolios, which represent EUR 20 billion in assets, as well as data provision relative to financial reporting (performance measurement, fixed income attribution, VaR, etc.) and enhanced regulatory reporting as required by the Solvency II directive.
CACEIS has designed a front-to-back office operational model for the MACSF group, which captures, enhances and standardises data in order to feed accounting and repository systems. The assets were transferred in February 2013.
Marcel Kahn, CEO of the MACSF group, said, “I particularly appreciated the impressive efforts made by the CACEIS teams to meet our needs in full. CACEIS’s interface solutions between our front office, our valuation tool and the reporting platform were decisive factors for us. We will be able to analyse our portfolios in detail, in compliance with new regulatory requirements.”
François Marion, CEO of CACEIS, commented, “we have built a relationship based on our technological capabilities, automated connectivity and active collaboration between the MACSF and CACEIS teams, to provide top-quality services to our new client. We are proud of this new partnership with the MACSF group.”
CACEIS is the asset servicing banking group of Crédit Agricole 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).
About the MACSF group
The MACSF is a leading insurer of health professionals in France, and has been at the service of all those engaged in the health profession for over 75 years. MACSF has remained faithful to its vocation of providing professional mutual insurance, insuring both private and professional risks of members of the private or hospital health professions.
Deputy Group Communications Director
Tel.: +352 4767 2792