9 February 2018
- At year-end 2017, the managers of Grupo Ibercaja had managed assets of more than Euros 15 billion
- Cecabank ended 2017 with deposits of more than Euros 108.041 billion, consolidating its leadership of the sector
Cecabank, a wholesale bank specialising in Securities Services, has announced the renewal of its depositary service for the management companies of Grupo Ibercaja, Ibercaja Gestión and Ibercaja Pensión. The agreement entails extending both the collaboration between these entities and the close trust relationship for another ten years.
This has enabled Cecabank to strengthen its leadership of depositary services for collective investment institutions and pension funds. The bank ended 2017 with deposits of Euros 108.041 billion. This figure places Cecabank at the forefront of the sector in Spain, with annual growth of 11% in assets deposited. This figure is above the sector average.
Separating the depositary activity from marketing and management enables it to provide added security
As a result, Javier Planelles, the corporate director of Cecabank's operational services area, stated: "We are very pleased to enjoy the trust of one of the leading asset marketing and management groups, which has grown more than any other in recent years. Cecabank has been able to renew this arrangement as it has adapted to customer demands and has specialised in post-trading in a demanding regulatory environment. The asset management industry is aware of the need to have a high quality independent depositary. We have demonstrated that separating depository activities from marketing and management allows for more security for investment and pension fund stakeholders".
At the same time, the bank is undergoing a digital transformation to strengthen the value chain. Cecabank works with different organisations, including fintechs, to create ecosystems that provide unique attributes. This enables them to collaborate to provide agile, modern solutions, All of which are adapted to suit demanding end customers who want to access information differently.
Ibercaja, a specialist in investment funds and pension plans
At year-end, investment fund assets managed by Ibercaja Gestión amounted to Euros 12.367 billion. This represents an increase of 18.88% compared to December 2016. This figure is a new record as regards volumes managed by Ibercaja.
Meanwhile, Ibercaja Pensión ended 2017 with managed assets of Euros 6,363 billion. This puts the group in fifth place in the national ranking of managed pension plan assets, with a 5.73% share of the market. It has also consolidated its position as the third largest employee pension plan provider, with assets of Euros 4.107 billion and a market share of 11.47%.
