ERES and CACEIS in employee savings deal 18 September 2014Paris Reporter: Catherine Van de Stouwe
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CACEIS has been chosen to provide depositary and fund administration services for ERES’s employee savings funds.
The deal covers approximately 50 funds, such as multi-company or dedicated shareholding funds (FCPEs) and FCPs eligible for retirement schemes, with assets close to €1 billion.
Nicholas Vachon, CEO of ERES, said: “Through this partnership the funds concerned will benefit from the support of France’s leading provider of asset servicing.”
“We based our decision on CACEIS’s expertise in the area of employee savings funds, its open architecture reporting system and the relationship it has already developed with our partner custody account keepers.”
Joseph Saliba, deputy CEO in charge of business development at CACEIS, said: “CACEIS is ideally placed to support ERES in its development and compliance with changing regulations by providing a comprehensive range of services that is constantly being adapted.”
“This new deal strengthens our position as a leading asset servicing provider for management companies specialised in employee savings solutions.”
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