Apex Group is to acquire Bank of America Custodial Services (Ireland) Limited, the Irish depositary business of Bank of America. Apex will acquire BACSIL through its subsidiary European Depositary Bank.
Apex Group (Apex) is to acquire Bank of America Custodial Services (Ireland) Limited (BACSIL), the Irish depositary business of Bank of America. Apex will acquire BACSIL through its subsidiary European Depositary Bank (EDB).
BACSIL is a depositary solution for onshore and offshore funds servicing blue-chip clients consisting of UCITS, alternative investment funds and offshore depo-lite fund structures, across a wide range of strategies. The BACSIL business, based in Dublin, provides depositary services to client assets of $71.4 billion (as at 31 December, 2022).
Apex Group’s existing depositary services delivered by EDB, support a range of regulated fund types. The addition of BACSIL expands Apex Group’s independent depositary services in Ireland, with the Group also offering depositary solutions in Luxembourg, UK, Malta, Sweden, Denmark and the Netherlands through EDB.
BACSIL’s team will join Apex in Dublin.
