PRESS RELEASE: CACEIS Selects NeoXam for its Insurance Business and Will Operate the Largest Back-Office in Europe
Paris – September 29, 2014 – CACEIS, one of the world’s largest asset servicers and the leading fund administrator in Europe, has selected NX GP3 to manage its global fund administration worldwide. CACEIS’ European entities have been using NX GP3 for mutual fund processing for years. NX GP3 will be extended to Institutional funds and to new jurisdictions around the world while processing €1.3 trillion in assets on a daily basis. NX GP3 provides fund accounting, valuation and reporting. NeoXam serves more than 100 clients in 25 countries.
CACEIS was looking for a global and unique platform to manage its entire fund administration business. The organization conducted a thorough system selection process driven by external consultancy and that included RFP and workshops. NX GP3 was chosen for its proven ability to manage both institutional and mutual funds and for its extensive functional coverage. NX GP3’s capabilities to manage large volumes were also in line with CACEIS’ expansion strategy. NX GP3 will enable CACEIS to operate in a more automated environment, providing increased efficiency and transparency while reducing operational risk.
Jean-Pierre Michalowski, Deputy Chief Executive Officer at CACEIS, said “In today’s challenging market environment, it was key for us to leverage synergies and to centralize our activities on a single reliable platform while continuously addressing our customers’ needs. We selected NX GP3 because of our long trustful relationship and its proven scalability and flexibility to support our business expansion. NX GP3 was also the most cost-effective solution with proven implementation methodologies. NX GP3 will enable us to capture new market shares by providing enhanced services to our clients through customized and innovative solutions.”
Serge Delpla, Chief Executive Officer of NeoXam, said, “We are delighted that CACEIS has selected NX GP3 as a global platform to operate the largest back-office in Europe. This demonstrates our ability to address industry key players’ business demands for both mutual and institutional funds. We look forward to working with CACEIS to promote innovation, the integration of services and help scale for growth.”
About CACEIS
CACEIS is an asset servicing banking group dedicated to institutional and corporate clients. Through offices across Europe, North America and Asia, CACEIS offers a broad range of services covering depositary and custody, fund administration, middle-office outsourcing execution, derivatives clearing, forex, securities lending, fund distribution support and issuer services. With assets under custody of €2.3 Trillion and assets under administration of €1.3 Trillion, CACEIS is one of the world market leaders in asset servicing, the second depositary bank and the leading fund administrator for European funds (figures as of 31 December 2013). For more information, please visit: www.caceis.com
About NeoXam
NeoXam provides front, middle and back-office solutions to the asset management industry worldwide. Benefiting from more than 25 years of experience, NeoXam enables clients to achieve a new experience in asset management. With more than 100 customers around the world, NeoXam provides through its international distribution network full coverage of local requirements in 15+ countries. More than $7 Trillion worth of assets are processed daily through its solutions by more than 10,000 users. NeoXam is headquartered in France with offices in Europe, USA, Asia, Middle East and Africa. For more information, please visit: www.neoxam.com
Trademark Information: NeoXam, the NeoXam logo, GP3 are trademarks or registered trademarks of NeoXam. All other trade names are trademarks or registered trademarks of their respective holders.
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