“Robust services, centres of expertise, and fintech partnerships give clients a competitive edge in today’s market”, says Philippe Bourgues, CEO of CACEIS in Luxembourg. He explains the importance of close client relationships, technology solutions, and careful management of business integrations.
Can you present your company in a few words?
CACEIS is a European asset servicing group with a global presence across Europe, the Americas and Asia. We specialise in providing investment management firms with comprehensive support throughout the investment lifecycle, from execution to custody. We are supported by two major universal banks, Crédit Agricole and Santander, which assures our clients of our financial stability even in challenging business environments. We’re posting strong organic growth figures, have recently completed a significant partnership with Santander S3, and poised to add RBC’s staff and clients to our network once the transaction is completed later this year. CACEIS has significant expertise in business carve-outs, migrations and partnerships and we are eager to work with our RBC colleagues in Luxembourg to facilitate their transition to CACEIS’ Luxembourg branch.
What are the new challenges and opportunities that you identify?
Regulation is crucial to safeguard the financial industry and investors, yet it poses significant administrative challenges for many. This creates a business opportunity for CACEIS, which can leverage its global network and economies of scale to help clients comply. Closely linked to the regulatory question is CSR and sustainability. CACEIS is driven by regulation as well as our own commitments to promoting sustainability and guiding clients and suppliers towards ethical practices. Digitalisation and data analytics are also key opportunities for CACEIS, as we sit at the intersection of client and market data. CACEIS offers clients greater data transparency to make better decisions and enhance investor value.
“Luxembourg has historically benefitted from its central location in Europe, access to skilled workers from neighbouring regions, and a business-friendly government.”
How do you see the future of Luxembourg?
Luxembourg has historically benefitted from its central location in Europe, access to skilled workers from neighbouring regions, and a business-friendly government. The latter means it has always been quick to take advantage of regulatory opportunities and to address any identified shortcomings. ALFI plays an important role too, effectively advocating for the needs of financial industry players and promoting Luxembourg’s financial expertise to the global market. With its concentrated financial expertise, secure governance framework and a large pool of cross-border workers, the Grand Duchy’s future looks bright. However recruiting high-skilled workers with specialised training, knowledge and experience is increasingly challenging, and is an area that could potentially impact Luxembourg’s attractiveness as a financial centre going forward.