CACEIS has finally confirmed that CANDRIAM, the French asset manager, will migrate asset servicing activities (custody, fund administration, transfer agency) for its Luxembourg and French funds from RBC I&TS to CACEIS. The migration will start at the end of March 2020, following approval by the competent regulatory authorities. It will take place in three waves and will be completed in October 2020. The migration covers the full range of CANDRIAM’s funds domiciled in Luxembourg and France.
Pierre Ernst, COO of CANDRIAM, said: “Due to the increased complexity of the market, asset managers need strategic partnerships throughout the value chain. After many years of very professional cooperation with RBC, we decided to turn to CACEIS. CACEIS really impressed us with their service offer, their digital investments, their knowledge of our institutional clients and their needs, and finally their growth dynamics. This is a strategic decision for CANDRIAM and we will implement it with the greatest care for our clients.”