French banking group Crédit Agricole has finalised the acquisition of Banco Santander’s 30.5% stake in CACEIS, thereby gaining complete ownership of its asset servicing subsidiary.
The financial terms of the deal were not disclosed.
This development follows an agreement announced in December 2024, with all regulatory authorisations now secured. Crédit Agricole now fully controls CACEIS, enhancing its influence in the European asset servicing sector.
Despite the ownership change, CACEIS and Santander will continue their collaboration, maintaining joint control over their Latin American operations.
This transaction aligns with Crédit Agricole Group’s investments and objectives, though it is expected to lower the group’s fully-loaded CET1 ratio by approximately 30 basis points.
Crédit Agricole stated that it remains committed to fortifying CACEIS’s position as a key European asset servicing entity, emphasising its importance in supporting client growth.
CACEIS has recently expanded through strategic mergers, including acquiring RBC Investor Services’ European operations, which broadened its client base and service offerings.
The asset servicing business operates across several continents, providing services such as custody, fund administration, and securities lending to asset managers and institutional investors. It managed €5.3 trillion in assets under custody and €3.4 trillion in assets under administration as of December 2024.
Recently, CACEIS secured a contract with Syz Asset Management for custody and fund administration services covering more than CHF3bn ($3.77bn) in funds. This partnership was chosen due to CACEIS’s capacity to deliver customised solutions and support.
Additionally, CACEIS Bank received regulatory approval from France’s ACPR and AMF to offer crypto-asset services under the new Markets in Crypto-Assets (MiCA) regulations, marking a significant step in its digital asset strategy. This authorisation enables CACEIS Bank to provide crypto-related services across the European Union via passporting rights.
