Créd Ag and Santander team up in custody services

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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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