As part of the agreement, 100 percent of Santander Íø±¬³Ô¹Ï Services Spain and 49.99 percent of Santander Íø±¬³Ô¹Ï Services’ operations in Latin America have been contributed to CACEIS.
Credit Agricole and Santander now hold 69.5 percent and 30.5 percent, respectively.
The transaction combines two custody and asset servicing players with €3.9 trillion in assets under custody and €2.1 trillion in assets under administration.
The combination will see Jean-François Abadie take of the role at CEO of CACEIS, while Carlos Rodriguez de Robles, current general manager of Santander Íø±¬³Ô¹Ï Services, will lead the Spanish and Latin American activities, reporting to Abadie.
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