Lenz & Staehelin advised CACEIS on the reorganisation of its European asset servicing activities

Lenz & Staehelin has advised CACEIS on the acquisition of the European asset servicing activities of Royal Bank of Canada. As of June 1, 2024, i.e. less than a year after this acquisition, the CACEIS teams have been united within common entities in Switzerland, France, Luxembourg, Belgium and Ireland. The migration of client portfolios will be completed in the next months.

All necessary regulatory approvals for the merger of entities in various jurisdictions including Switzerland have been obtained and all corporate steps completed. In Switzerland, the transaction mainly impacted the Zurich branch of the Group, CACEIS Bank, Montrouge, Zurich branch / Switzerland, which has been newly authorized by FINMA as a branch of a foreign branch, a custodian bank and representative of foreign funds.