CACEIS wins UK depositary mandate for Bellevue Group
Swiss Bellevue Group, the independent Swiss financial boutique, selected CACEIS as Depositary provider for BB Healthcare Trust plc, which it launched on the London Stock Exchange on 2nd December.
Set up as a UK Investment Trust, and managed by Bellevue Asset Management AG, BB Healthcare Trust plc launched with an initial issue volume of £150 million. Services will be ensured by CACEIS’s UK depositary banking branch.
André Rüegg, CEO of Bellevue Asset Management stated, “Following an intensive selection process in close collaboration with the board of trustees, we are confident that we have selected the best suited service provider for the BB Healthcare Trust plc. CACEIS has extensive depositary experience in Europe and its London branch has demonstrated its capacity to handle our specific requirements in terms of UK depositary services.”
Joe Saliba, CACEIS Deputy CEO said, “We are delighted to welcome Bellevue to the growing list of clients of our UK Depositary bank. Our London-based depositary operation has met with considerable success, enabling us to effectively export our recognised expertise in depositary services to the UK asset management community. We look forward to working with Bellevue and are keen to strengthen our new business partnership.”
CACEIS is the asset servicing banking group of Crédit Agricole dedicated to institutional and corporate clients. Through offices across Europe, North America and Asia, CACEIS offers a broad range of services covering execution, clearing, depositary and custody, fund administration, middle office outsourcing, forex, securities lending, fund distribution support and issuer services. With assets under custody of €2.5 trillion and assets under administration of €1.6 trillion, CACEIS is a European leader in asset servicing and one of the major players worldwide (figures as of 31 December 2016).