Créd Ag and Santander team up in custody services

By Jasper Cox
18 Apr 2019

Santander’s S3 business is set to join up with Crédit Agricole’s CACEIS, as the two banks look to merge their custody and asset servicing operations, a growing area of revenue for banks.

They announced they were signing a memorandum of understanding on Thursday, with a view to combining operations. The merger is expected to take place by the end of the year.

In 2018 securities services recorded its highest revenues since 2013 on a global basis, according to Crisil Coalition, ...

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