Michel Bois, architect of the rise to prominence of CACEIS over the last decade, has left the bank.
As head of custody at IXIS-IS, the custodian bank spun out of the State-owned CDC group, Bois led the merger with Credit Agricole Investor Services that created CACEIS in the summer of 2005. He became managing director of the merged entities, reporting to Francois Marion, the CACEIS CEO and chairman of the managing board.
After the merger in France, Bois played a leading role in the creation of CACEIS Bank Deutschland, following the acquisition of the custody business of Munich-based HVB.
It seems that the cerebral Bois, a mathematics graduate and trained actuary, is a victim of the effective takeover of CACEIS by Credit Agricole, after the French bank bought the 35 per cent stake in CACEIS held by Natixis.
Bois, who is also a member of the board of Clearstream Bank Luxembourg, can claim to have played a central role in the creation of a major new force in European custody and fund administration.