CSC expands funds services footprint with new Irish depositary license

CSC, a provider of business, legal, tax, and digital brand services, has secured a specialised depositary license from the Central Bank of Ireland.

On the heels of obtaining CSC’s Irish fund administration license last year, the depositary license further enhances the company’s capabilities in Ireland and advances CSC’s long-term strategy of providing a comprehensive suite of multi-jurisdictional alternative investment, capital markets, and corporate solutions in key global financial centres.

“We’re delighted to be among the first companies to receive authorisation to act as a depositary of assets other than financial instruments in Ireland,” says Paul Whelan, managing director of depositary services for CSC Global Financial Markets in Dublin. “I’d like to thank the Central Bank of Ireland for engaging with us throughout the process. This license allows us to provide our clients with additional services while delivering the high level of support and expertise they expect.”

CSC has earned the trust of clients around the world, working with 60 per cent of the top 100 global alternative asset managers, providing specialised outsourcing services to them and their advisors in the United States, Europe, and the Asia-Pacific region. CSC, headquartered in Wilmington, Delaware, is a 120-year-old privately held independent service provider, offering clients long-term stability and a commitment to service excellence.

“Attaining our depositary license in Ireland is another important milestone in building a leading services offering for fund managers and enhancing our global capabilities,” said John Hebert, president of CSC Global Financial Markets. “Our clients’ interests are our top priority, and our team-based approach allows us to work in concert with them, no matter the market, service, asset type, or location.”

CSC anticipates fund administration and depositary licenses in Luxembourg to follow shortly, which will complement service offerings in Ireland and the Netherlands.

The Irish office of Simmons & Simmons advised CSC on the licensing and approval process with the Central Bank of Ireland.