CACIES Investor Services has entered into a partnership with the Edmond de Rothschild Group.
CACEIS and Rothschild have signed a fund accounting, bookkeeping, custody and transfer agent services agreement in Luxembourg, covering assets of €20 billion.
Under the agreement, responsibilities will be shared between the firms. CACEIS will provide the bookkeeping, custody, transfer agent and accounting services. Rothschild will become the central administrator and remain as depository.
Marc Ambroisien, CEO of Rothschild, said: “By choosing CACEIS, we have laid the foundations of our future development.”
More than 100 Rothschild employees will join the CACEIS team on 1 October.
The partnership is the result of negotiations that began at the end of 2013.
Pierre Cimino, managing director of CACEIS Bank Luxembourg, commented: “This is an innovative alliance which will draw on our complementarity and respective skills, and see us consolidate our relationship with the Rothschild group.”
He added: “CACEIS hopes to support the Edmond de Rothschild group in its development strategy. The staff joining us will help ensure the quality and continuity of services for our partner and its customers.”
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