MACSF, the insurer of health professionals in France, has selected CACEIS as its asset servicing provider.
CACEIS has become the new custodian account holder for the MACSF group, following a tender process run by the MACSF in conjunction with French consultancy firm, Pilcer.
In addition to account holding for MACSF group’s portfolios, which represent €20 billion in assets, CACEIS will provide data relative to financial reporting (performance measurement, fixed income attribution, VaR, etc.) and enhanced regulatory reporting as required by the Solvency II directive.
CACEIS has designed a front-to-back office operational model for the MACSF group, which captures, enhances and standardizes data in order to feed accounting and repository systems. The assets were transferred in February 2013.
Marcel Kahn, CEO of the MACSF group, said, “I particularly appreciated the impressive efforts made by the CACEIS teams to meet our needs in full. CACEIS’s interface solutions between our front office, our valuation tool and the reporting platform were decisive factors for us. We will be able to analyze our portfolios in detail, in compliance with new regulatory requirements.”
François Marion, CEO of CACEIS, commented: “We have built a relationship based on our technological capabilities, automated connectivity and active collaboration between the MACSF and CACEIS teams, to provide top-quality services to our new client. We are proud of this new partnership with the MACSF group.”