Munich/Paris, January 8, 2008
As planned, CACEIS, the French bank specialised in asset servicing, took over the securities processing and custodial services of HypoVereinsbank (HVB) at the end of 2007. The transfer of the Financial Markets Service Bank GmbH (FMSB), the HVB subsidiary, which had already been contractually agreed in July 2007, was concluded notarially on December 28, 2007.
The name of the FMSB – which has hitherto carried out custody activities for HVB – will be changed to CACEIS Bank Deutschland GmbH as of February 1, 2008. A total of 550 employees will work out of its registered office in Munich and a second office in Hamburg.
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