The merger between Credit Agricole Investor Services (CA-IS) and Ixis Investor Services last year that led to the creation of CACEIS took a further step forward today with the news that CACEIS Corporate Trust, the merged issuer services group, is now operational.
The merger was between Euro Emetteurs Finance (EEF) and CACEIS Corporate Trust (formerly Crdit Agricole Investor Services Corporate Trust), and services French issuers only. When it was first created in 2005, CACEIS announced that it intended to merge French subsidiaries pursuing the same business activities: issuer services, fund administration and depository and custodial services. The grouping together of all activities related to issuer services within a single entity CACEIS Corporate Trust is the first to be completed. The merger of the other French subsidiaries will be completed in the course of 2006.
“This merger reinforces our front ranking positions in the area of issuer services with a market share of more than 25%,” says Sylvie Achin Gruot, chairman of the Management Board of CACEIS Corporate Trust. “It enables us to expand our offering thanks to the know-how and commitment of our employees, the creation of a stronger sales team and a unified information system.” On 20 December last year, Crdit Agricole Investor Services Corporate Trust changed its corporate name to CACEIS Corporate Trust, a wholly-owned CACEIS subsidiary governed by a Management Board and a Supervisory Board.
The legal merger between Euro Emetteurs Finance and CACEIS Corporate Trust was finalized on 28 February 2006. With its staff of 180 employees, CACEIS Corporate Trust offers issuers share registration, financial services, centralization of securities transactions, management and sub-contracting of stock option plans and the management of annual general meetings. CACEIS Corporate Trust specializes in employee share ownership plans.