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CACEIS performs successful migration of Popular AM and Popular Pensiones assets during lockdown

CACEIS in Spain migrated Popular Asset Management and Popular Pensiones business while all staff worked from home.

On 16th April, Popular Asset Management S.G.I.I.C and Popular Pensiones E.G.F.P, two companies merging with Santander Asset Management and Santander Pensiones, switched to CACEIS as their depositary bank in Spain.

Since January, staff from Popular Asset Management, Popular Pensiones and CACEIS have all worked closely to prepare the migration. During the lockdown period, with all staff working from home, 107 funds were migrated to CACEIS in Spain (59 investment funds and 48 pension funds), accounting for some €9.4 billion euros in assets.

This remarkable achievement was made possible due to the close cooperation between staff from all companies involved.

CACEIS has therefore further consolidated its position, with a share of the Spanish market now in excess of 20%, and a solid ranking as one of the leading depositaries in Spain.

During the current lockdown period, CACEIS continues to demonstrate its unwavering commitment to supporting clients’ development plans and reorganisation strategies.