London
16 February 2017
Reporter: Stephanie Palmer

CACEIS wins Swiss depository mandate


Swiss boutique Bellevue Group has selected CACEIS to provide depository services for its UK investment trust, the BB Healthcare Trust.

The trust launched on the London Stock Exchange on 2 December 2016, with an initial issue volume £150 million.

Services will be ensured by CACEIS’s UK depository banking branch. CACEIS opened its London office in July 2016, and earlier this month received regulatory authorisation to provide depository services to UK UCITS funds.

André Rüegg, CEO of Bellevue Asset Management, said: “Following an intensive selection process in close collaboration with the board of trustees, we are confident that we have selected the best suited service provider for the BB Healthcare Trust.”

“CACEIS has extensive depositary experience in Europe and its London branch has demonstrated its capacity to handle our specific requirements in terms of UK depositary services.”

Joe Saliba, deputy CEO of CACEIS, said: “We are delighted to welcome Bellevue to the growing list of clients of our UK depositary bank. Our London-based depositary operation has met with considerable success, enabling us to effectively export our recognised expertise in depositary services to the UK asset management community.”

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Merrill Lynch first to fall foul of UK’s EMIR reporting rules
23 October 2017 | London | Reporter: Drew Nicol
The bank accepted a £34.52 million penalty relating to 68.5 million unreported transactions between February 2014 and February 2016
Wolters Kluwer chosen for risk and reg by Polish bank
23 October 2017 | Warsaw | Reporter: Theo Andrew
Bank BPS will use the OneSumX solutions for static and dynamic projection analysis, liquidity reporting, interest-rate and foreign-exchange risk, as well as value-at-risk analysis
Iberclear bank on Citi to provide global custody
20 October 2017 | Madrid | Reporter: Jenna Lomax
The agreement, signed at this years Sibos conference in Toronto, will enable Spanish clearing houses to settle international securities via local CSDs
Clearstream promises post-Brexit services continuity
20 October 2017 | London | Reporter: Jenna Lomax
Despite the uncertainty that came after the referendum results last year, Clearstream said its main objective through Brexit was to minimise risk of cross-border settlement
AI will be transformative, but is still in early stages
19 October 2017 | Toronto | Reporter: Stephanie Palmer
Artificial intelligence is a “transformational technology” that will improve productivity and security, and provide a competitive advantage, according to a live poll at Sibos 2017
Security and standards key in blockchain solutions
19 October 2017 | Toronto | Reporter: Stephanie Palmer
Distributed ledger technology (DLT) solutions should embed security measures at their very core, especially in the financial services space, according to Sibos panellists
LCH promotes Daniel Maguire to CEO
19 October 2017 | London | Reporter: Jenna Lomax
Maguire, who has been COO of the same department since April this year, was previously senior vice president for commodity exotics and hybrids at J.P. Morgan
More news