CSC, provider of business, legal, tax and digital brand services, has expanded its fund services footprint by securing a specialised depositary license from the Central Bank of Ireland.
Last year CSC obtained an Irish fund administration license, which was approved by the Central Bank of Ireland after a six-month application process.
The new depositary license further enhances its capabilities in Ireland and advances its long term strategy of providing a comprehensive suite of multijurisdictional alternative investment, capital markets and corporate solutions.
CSC says it anticipates fund administration and depositary licenses in Luxembourg to follow shortly, which will complement service offerings in Ireland and the Netherlands.
“We’re delighted to be among the first companies to receive authorization to act as a depositary of assets other than financial instruments in Ireland,” says Paul Whelan, managing director of depositary services for CSC Global Financial Markets in Dublin.
Whelan continues: “I’d like to thank the Central Bank of Ireland for engaging with us throughout the process. This license allows us to provide our clients with additional services while delivering the high level of support and expertise they expect.”
John Hebert, president of CSC Global Financial Markets, comments: “Attaining our depositary license in Ireland is another important milestone in building a leading services offering for fund managers and enhancing our global capabilities.”
“Our clients’ interests are our top priority, and our team-based approach allows us to work in concert with them, no matter the market, service, asset type, or location", Hebert adds.
