Stock lending and repo a part of CACEIS renewal 24 June 2014Paris Reporter: Tammy Facey
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French insurer CNP Assurances has mandated CACEIS as its custodian for another five years.
Under the agreement, CACEIS will act as custodian for €280 billion in assets and will provide collateral management, stock lending and repo processing, settlement bank services, registrar, general assembly meetings, and selected back-office processing of non-listed investments.
“Over the years, we have built a relationship based on confidence with CNP Assurances, following their daily activities and accompanying them with their projects, ” said CACEIS deputy CEO Joseph Saliba.
Saliba added: “Our principal objective in honoring the renewal of this mandate will be to reinforce the links between our two groups.”
“We are committed as a partner of choice for CNP Assurances by adapting our service offer to the needs of our client and the changing regulatory landscape.”
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