CACEIS Achieves Record Asset Milestones Following RBC IS Acquisition Integration

CACEIS Achieves Record Asset Milestones Following RBC Acquisition Integration

(IN BRIEF) Since June 1st, 2024, following the acquisition of Royal Bank of Canada’s (RBC) European asset servicing operations, all staff across various locations have been consolidated under unified legal frameworks. Concurrently, efforts are underway to migrate clients to this new structure, with completion slated for the close of 2024. With regulatory approvals secured, CACEIS has streamlined its legal entities in France, Luxembourg, Belgium, Ireland, and Switzerland. As of March 2024, CACEIS has achieved record-breaking figures, boasting over €5 trillion in assets under custody and more than €3.4 trillion in assets under administration. Jean-Pierre Michalowski, CEO of CACEIS, expressed pride in the staff’s accomplishments and gratitude for the trust of both existing and new clients, facilitating the successful integration of RBC IS activities. The unified entity of CACEIS, now comprising over 7,000 employees across 18 countries, is witnessing the initial benefits of this acquisition, positioning itself as a vital business partner for clients to achieve their growth objectives.

(PRESS RELEASE) MONTROUGE, 3-Jun-2024 — /EuropaWire/ — Under a unified legal framework, CACEIS, the asset servicing banking group of Crédit Agricole, has successfully consolidated its European asset servicing operations following the acquisition of Royal Bank of Canada’s (RBC) activities. As of 1st June 2024, all personnel across various locations have been integrated into cohesive organizational structures. The migration of clients to this new setup is well underway and is slated for completion by the year-end.

With regulatory approvals secured, CACEIS has restructured its legal entities in France, Luxembourg, Belgium, Ireland, and Switzerland. This strategic realignment positions the company to optimize its operations and better serve its clientele.

As of March 2024, CACEIS has achieved record-breaking milestones, boasting assets under custody exceeding €5 trillion and assets under administration surpassing €3.4 trillion. These achievements underscore the company’s robust performance and unwavering commitment to excellence.

Jean-Pierre Michalowski, CEO of CACEIS, expressed his pride in the successful integration of RBC IS activities and gratitude for the trust placed in the company by both existing and new clients. He remarked, “This milestone signifies a significant achievement for our organization, as we now stand united under the CACEIS banner. With a workforce of over 7,000 professionals spanning 18 countries, we are well-positioned to serve as a strategic partner to our clients, supporting them in achieving their business objectives.”

ABOUT CACEIS

CACEIS is the asset servicing banking group of Crédit Agricole and Santander dedicated to asset managers and institutional investors. Through offices across Europe, North and South America, and Asia, CACEIS offers a broad range of services covering execution, clearing, forex, securities lending, custody, depositary, fund administration, fund distribution support, middle office outsourcing and issuer services. CACEIS is a consolidator of the European asset servicing market and posts continued growth.
www.caceis.com

Media contact:

Claude Michaux
Tel: +352 4767 2792
Claude.michaux@caceis.com

SOURCE: CACEIS