CACEIS targets further growth through CACEIS Fastnet
CACEIS has completed the operational merger of its fund administration activities in France with all assets now handled by CACEIS Fastnet.
CACEIS Fastnet was formed following the merger of Fastnet France and IXIS Fund Administration, and already the introduction of this new unified, client-driven organisation is beginning to bear fruit. Assets administered by CACEIS are up from EUR 546 billion as at 30 September 2005 to EUR 627 billion at 31 March 2006, an increase of 14.8 per cent.
CACEIS believes this strong growth reflects the strength of the company's management and personnel, and their ability to consolidate the group's unrivalled leadership on a highly competitive market, by delivering innovative and high value-added financial solutions and services to institutional investors.
The total volume of assets administered by CACEIS across Europe now stands at over EUR 800 billion. In addition to France, CACEIS is also active in the fund administration field via Fastnet's European network in Luxembourg, Ireland, Belgium and the Netherlands.
The value-creating merger operation strengthens CACEIS' overall offering and responds to the needs of asset managers and institutional clients. CACEIS is also the leading custodian in France, ranks third in Europe and in the top 10 worldwide.
The merger marks a further stage in CACEIS' growth strategy, with other external or organic growth opportunities already being studied in France and abroad.
CACEIS Fastnet is managed by Jean-Pierre Michalowski (Managing Director), Jean Devambez (Deputy Managing Director) and Serge Bernard (Deputy Managing Director).
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