CACEIS is new custodian for French insurance group MACSF
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CACEIS is new custodian for French insurance group MACSF 04 April 2013Luxembourg Reporter: Georgina Lavers
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CACEIS has become the new asset servicing provider for the French insurance group MACSF, following a tender process run by the firm 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 €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.”
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