2023 was definitely a very memorable year in CACEIS’ history. The takeover of RBC Investor Services' European operations was a major strategic development for our Group, massively increasing the scope of our activity, both in terms of our industry expertise and our international footprint which now covers eighteen countries across four continents.
We are undoubtedly a front-running group on the European buy-side and a key asset servicing partner for investment management companies and institutional investors. We have significantly strengthened our presence in Luxembourg and Ireland, Europe’s leading fund administration and distribution centres, and wherever we operate, we have built close relationships with regulators and industry bodies to ensure we can act in the best interests of our clients and the industry we represent.
To adapt to our broader business scope and extended geographical presence, we implemented a new governance structure for CACEIS in October 2023. It enables us to better meet the needs of our clients throughout our international network, through process optimisations, with speed and efficiency improvements across the board.
Raising client satisfaction rates is a central part of our group’s development ambition and corporate ethics. In 2023, we continued to drive client satisfaction rates higher, as measured by our "Leading by Client Satisfaction" surveys. In 2024, we will keep following this path to further improve our business results and client satisfaction rates.
Clients joining us this year will benefit from our close support as their portfolios and operations are brought over to CACEIS’ systems. We will also ensure that throughout this busy period, our existing clientele will benefit from the same high levels of business development and operational support that they have come to expect. The major developments that our group is undergoing are enriching our expertise and broadening our service offering, putting us in a stronger position to take on the challenges of the future and positioning us as a key business partner for investment industry players.
We have a strong commitment to innovation, and digital technologies are essential to new product development, process efficiency and information security. We are keen to remain at the cutting-edge of technology and work with regulators and industry think-tanks to ensure we are involved in technology trials relevant to our clients’ needs, giving them a first starter advantage in the marketplace.
As the focus on Corporate Social Responsibility (CSR) factors in our industry continues, we are building on our existing portfolio of ESG-related solutions to help clients monitor and manage their sustainability commitments efficiently for the good of their investors and society as a whole.
Our Group has solid financials, as have our shareholders, Crédit Agricole Group and Santander Bank, who fully support our business development strategy and sustainability goals.
I am confident that CACEIS and the clients we serve are in an excellent position to tackle the challenges this new year will bring, and on a personal level, I would like to wish you a happy, healthy and prosperous 2024.