Louvre fund chooses CACEIS for custody 25 November 2016Paris Reporter: Stephanie Palmer
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CACEIS has been appointed to provide custody and a range of other services to the Louvre Endowment Fund.
The fund is aimed at investors with a long-term focus, and will use CACEIS for custody, valuation, execution, clearing of listed derivatives, and financial report generation.
Created to support renovation work on the Louvre Palace and museum, and the adjacent Jardin des Tuileries, the Louvre Endowment Fund will also support preservation and study of art collections, projects to promote art and culture, and other educational projects.
Philippe Gaboriau, CEO of the Louvre Endowment Fund, said: “We were attracted by CACEIS’s comprehensive offering and execution-to-custody model. We benefit from the group’s expertise and sound financial standing, which ensures the safe custody of our assets. In addition, we greatly appreciate the close working relationship we have with the sales teams.”
Joe Saliba, deputy CEO in charge of business development at CACEIS, added: “The assets of the Louvre Endowment Fund are crucial to achieve the objectives of this prestigious institution, which is duly demanding in terms of service quality.”
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