Cecabank surpasses €4.3 billion in assets under depositary in Portugal, becoming the third-largest UCITS fund depositary in the Portuguese market
The bank strengthens its position as an independent depositary in the Iberian market, offering a comprehensive and flexible Securities Services solution tailored to the operational, regulatory and business needs of Portuguese asset managers
Portugal and Luxembourg are strategic markets for the international growth of its business
Cecabank continues to strengthen its position in Portugal, surpassing €4.3 billion in assets under depositary in the Portuguese market, where it has established itself as the leading independent depositary and the country's third-largest UCITS fund depositary.
The addition of Haitong GAM and Optimize Investment Partners, among others, as clients this year strengthens Cecabank's track record in Portugal since the opening of its Lisbon branch in 2018 and reinforces its role as a specialist provider of depositary, custody and settlement services for the Portuguese asset management industry. It has also expanded its client base, which includes entities such as BPI Gestão de Ativos, ABANCA Portugal and Banco CTT, among others, demonstrating its ability to develop strong, long-term business relationships.
This growth reinforces a differentiated offering based on specialisation, independence, financial strength and neutrality, supporting clients with solutions tailored to their operational, regulatory and business needs.
Aurora Cuadros, Cecabank's Corporate Director of Securities Services, states: “Achieving third place in the ranking of depositary institutions in Portugal confirms the strength of our value proposition and the confidence that Portuguese asset managers place in our business model. Portugal is a strategic market for Cecabank, where we are strengthening our position as the country's leading independent depositary. Our aim is to continue growing alongside our clients as their partner of choice, combining specialisation, operational excellence and a long-term vision”.
A differentiated offering for Portuguese asset managers
Cecabank is authorised to provide depositary services to UCITS funds, real estate vehicles and Portuguese alternative asset funds, enabling it to offer a comprehensive solution tailored to the needs of investment managers in the Portuguese market.
Growth in Portugal is underpinned by a comprehensive value proposition centred around depositary and custody services, which Cecabank complements with specialised capabilities in equity and fixed-income execution, derivatives settlement and leading tax services, aimed at maximising operational efficiency and investment performance.
This new milestone highlights the sustained growth that Cecabank has been recording across various European jurisdictions. Against this backdrop, Portugal and Luxembourg are strategic markets for the international development of its Securities Services business, where the bank continues to strengthen its position as a specialist partner for asset managers, financial institutions and institutional investors.
Cecabank has established itself as the leading Securities Services bank in the Iberian market. The bank safeguards the savings of nearly ten million investors and continues to reach record highs in both depositary and custody services. As Spain's largest independent depositary, Cecabank administers more than €300 billion in assets under depositary and provides services to more than fifty fund managers, pension fund managers and private equity firms. It also holds more than €400 billion in assets under custody for over 135 financial institutions, with access to more than 70 international markets. This position has been recognised by specialist magazine Global Banking & Finance Review, which has named Cecabank Spain's Best Custodian Bank for ten consecutive years, an accolade that endorses its leadership and the confidence that clients and investors place in its independent business model.
