A new chapter has been added to the rich history of more than 200 years of KAS BANK: KAS BANK becomes part of CACEIS. By joining forces with a large and focused player in custody and administration of assets and high-quality risk management and reporting services, we can offer even better solutions to our clients. We will continue to develop client- and market-oriented solutions and further expand our services. This way, we will continue to add value for your organisation. Now, and for the next 200 years.
24 Sep 2019
While still acting under the legal name KAS BANK N.V., we will start transforming into a branch of CACEIS as of next year. First step will be a name change from KAS BANK to CACEIS. But our core values remain intact. Just like our service. For us, our client is the focus point.
You may have questions about the transaction and the consequences for your organisation. Below you will find answers to the most frequently asked questions.
1. Why does KAS BANK join forces with CACEIS?
KAS BANK is a strong company with a good team, but the custody market is changing. Scale and balance sheet size are becoming increasingly important factors. And we want to be able to continue to serve our clients well in all areas - not only now, but also in the future. We believe that CACEIS offers us the ideal opportunity to do so. CACEIS is a European asset service provider with scale and has a solid balance sheet, especially together with its parent company Crédit Agricole. CACEIS and KAS BANK are an excellent match for a sustainable future.
2. How does KAS BANK ensure that the transaction has no operational impact and is continuity guaranteed for clients?
CACEIS and KAS BANK are complementary when it comes to clients, markets and knowledge, hence we do not anticipate any problems or operational impact for our clients. KAS BANK has its own IT systems on a standalone basis, which allows for a gradual migration and integration with limited time pressure. In addition, CACEIS has extensive experience with migration/integration projects. Now that the transaction has been completed, we will become a branch of CACEIS in the future, supported by the large and strong parent company Crédit Agricole.
3. Will KAS BANK continue to support all current client sectors?
Yes, all of KAS BANK's current clients will also be clients of CACEIS. The combination of CACEIS and KAS BANK will continue to serve both institutional investors and financial institutions. In short, we continue to service pension funds, insurers, investment funds, asset managers, (private) banks, family offices and wealth managers.
4. Will KAS BANK continue to serve clients from the local offices (UK, Germany and the Netherlands)?
Yes, we will continue to serve our clients from the current offices and nothing will change for our clients in this respect as a result of the transaction. Our Client Management teams will remain based in the three home markets and the service management teams will serve our clients from the Amsterdam office. CACEIS has several expertise centres in Europe (e.g. Paris, Luxembourg and Munich) and Amsterdam will be added to this network.
5. What are the main benefits for our clients?
A major benefit for clients is the strong balance sheet of CACEIS. CACEIS is well capitalised and is one of the major players in Europe in the field of custody and asset servicing, with EUR 2,633 billion assets under custody and EUR 1,695 billion assets under administration. CACEIS also has a good credit rating (Fitch A+, S&P A+). Behind CACEIS is a strong parent company, Crédit Agricole, the ninth largest bank in the world. We can now expand our range of services, including private equity, real estate administration and Transfer Agency services. In addition, CACEIS is also based in Hong Kong and Canada, which means that we now also offer follow-the-sun processing.
In the upcoming period, we will provide you with further information on the integration with CACEIS on a regular basis. In addition, a client event will take place in the near future at which CACEIS will introduce itself and introduce you to the 'people behind CACEIS'.
For further questions, please contact your Client Team or contact Pat Sharman.