Apex acquires Bank of America’s Irish fund depositary services
Apex Group has acquired the Irish depositary business of Bank of America, Bank of America Custodial Services Ireland Limited (BACSIL), through its subsidiary European Depositary Bank.
The company hopes to deepen its independent depositary services offering in Ireland and provide custody, digital banking, fund administration, super ManCo and ESG rating and advisory services to BACSIL’s clients. BACSIL’s team has joined Apex in Dublin.
A provider of depositary solutions for onshore and offshore funds, BACSIL is based in Dublin and provides depositary services to client assets with a combined AUM of $71.4bn