Sanne, a provider of alternative asset and corporate administration services, is the first successful applicant to secure a specialised depositary licence from the Central Bank of Ireland.
According to Sanne, the licence marks a significant milestone for its Irish business as the licence will allow it to further enhance its capabilities in Ireland and its multi-jurisdictional proposition for alternative fund managers.
Sanne Depositary Services Ireland is now licenced to provide depositary services to collective investment schemes that require a streamlined, independent specialised depositary to comply with all the Alternative Investment Fund Managers Directive obligations.
Sanne says the new licence expands its already well-established product offering to cater for Irish domiciled closed-ended funds.
Dermot Mockler, director, alternative assets at Sanne, explinas: “This new licence represents a powerful addition to our proposition in Ireland in providing services to clients in a key domicile such as Ireland, and enables us to provide a holistic, bespoke and flexible service to managers."
Philip Dempsey, head of Sanne Ireland, comments: "Our new specialised depositary licence proves that Sanne understands our client needs, and provides them with a strategic advantage where, through market leading innovation, and first mover advantage, we can support their demands in a multi-jurisdictional world.”
