What were the reasons behind CACEIS’s decision to apply for a banking license in Switzerland?
Since 2006, CACEIS has operated in Switzerland through its local branch, winning many mandates for administration and management company services. The group obtained a banking license from FINMA in May 2015 and opened CACEIS Bank Switzerland. The new bank strengthened CACEIS’s Swiss presence, allowing it to serve the entire Swiss market, and gave clients access to the group’s full service range.
CACEIS’s bank in Switzerland has been operational for 15 months, servicing Swiss collective investment schemes, providing local and global custody for pension funds, management companies, insurance companies and banks, as well as acting as paying agent for foreignregistered funds.
How have clients benefitted from the new banking activities?
Adding depositary and custody services to the Swiss market offer gives clients access to a complete range of services based on market-leading IT systems, which are geared to the specific requirements of Ucits, hedge funds and real estate funds.
We provide Swiss managers with a service package that covers the full spectrum of their needs from launch, through daily administration and performance measurement, to investor and regulatory reporting for any type of investment vehicle domiciled in Europe. Clients also benefit from a fullyintegrated execution-to-custody solution covering the middle and back office, seamlessly interfacing execution services in the equity and futures markets together with our clearing and settlement, fund administration and custody systems.
Our regulatory compliance services assist clients in handling incoming regulation such as EMIR and MiFID-MiFIR, and we have developed services that facilitate listed and OTC derivatives transactions, as well as collateral management.
A multi-jurisdictional partner like CACEIS offers an understanding of international regulations, distribution channels and business practices, providing tailored advice and services to support companies’ business development objectives.
By broadening our offer in Switzerland, we strengthen relationships with clients, third-party players and fund associations/ working groups, while raising the bar for asset servicing in Switzerland.
What differentiates CACEIS from other Swiss depositaries?
Swiss depositaries are usually part of large asset management houses, insurance companies or retail banks. However, as asset servicing is CACEIS’s only focus, we invest resources directly into enhancing and developing our service range. CACEIS is also one of the few providers delivering integrated services that cover the entire post trade environment. And with interfaces to the principal capital markets we are able to offer attractively priced execution services.
Our middle- and back-office outsourcing services, reduce operational risk and increase operational efficiency, allowing clients to concentrate on generating investor value.
Finally, our knowledgeable teams speak Switzerland’s four principal business languages French, German, Italian and English, which ensures a close working relationship.
What is your business development strategy going forward?
CACEIS has an attractive offer for investment companies, pension funds, portfolio managers, insurance companies and banks – whether they be local boutiques or large international firms, and we aim to bring more Swiss clients on board.
Our long held experience in real estate servicing is also a key area where we can support clients looking to increase their market share and reduce their total expense ratio, and we have an extensive package of services designed specifically for real estate companies’ needs.
Our principal objective is to develop close partnerships with clients and leverage our international network and expertise to help them achieve their business development goals.