Depositary bank Caceis is opening a branch in Switzerland to offer services to locally domiciled funds as well as global custody.
The opening is in line with a European expansion strategy, the French firm – which has €2.4 trillion of assets under custody – says.
Caceis has been active in Switzerland since 2006 via its subsidiary, Caceis Switzerland, which it says is one of the top ten local management company service providers.
Caceis Bank Switzerland Branch, the name of the business, will act as a depositary for Swiss collective investment schemes, as a local and global custodian for pension funds, insurance companies and banks, and as a paying agent for funds domiciled abroad.
The branch is integrated with the Caceis Group’s operational platforms, giving Swiss clients access to broader asset servicing products and services.
François Marion, chief executive of Caceis, says the launch of the Swiss banking branch “demonstrates the strategic importance of this market for the group”.
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