Crédit Agricole: CACEIS to take over Edmond de Rothschild's asset servicing activities in Luxembourg
CACEIS, the investor services subsidiary of Crédit Agricole, announced on October 6, 2026 the planned takeover of all third-party asset servicing activities from Edmond de Rothschild in Luxembourg. The transaction remains subject to approval by the CSSF, Luxembourg's financial regulator.
A provider relationship since 2013 transforming into an activity takeover
Since 2013, CACEIS has provided Edmond de Rothschild in Luxembourg with several services including account management, custody and fund administration. The new agreement, presented by both groups as an asset servicing partnership, deepens this cooperation. Under the terms of this agreement, CACEIS will take over all third-party asset servicing activity in Luxembourg. The scope also includes asset servicing activities related to private equity and infrastructure funds. The two groups plan to jointly design tailored service offerings for dedicated funds across both liquid and illiquid asset classes. These offerings will combine Edmond de Rothschild's private banking and asset management with CACEIS's asset servicing capabilities.
CSSF approval required, non-significant impact on CET1 ratio
The transaction is subject to approval by the Luxembourg Financial Sector Supervisory Commission (CSSF). It has therefore not yet been completed. According to the press release, the transaction is consistent with Crédit Agricole group's objectives in terms of return on investment. Its impact on Crédit Agricole S.A.'s CET1 ratio is described as non-significant.
CACEIS highlights market consolidation, Edmond de Rothschild its refocus
Jean-Pierre Michalowski, Chief Executive Officer of CACEIS group, stated that the agreement builds on the relationship established with Edmond de Rothschild since 2013 and should contribute to the consolidation of the European asset servicing market. CACEIS positions itself as a consolidator of this market and reported, as of December 31, 2025, 5,900 billion euros of assets in custody and 3,700 billion euros of assets under administration. For Yves Stein, Chief Executive Officer of Edmond de Rothschild Europe, the agreement will enable the group to focus on developing its private banking and asset management activities, including services to dedicated funds. Edmond de Rothschild, 100% owned by the family, managed more than 198 billion Swiss francs of assets as of December 31, 2025 and has more than 2,800 employees across 35 locations.
