CSC secures Luxembourg licences

CSC Global Financial Markets has expanded its operations in Luxembourg, having secured fund administration and depositary licences in the jurisdiction.

To facilitate the expansion, CSC hired Pierre Mifsud as managing director for depositary services, and Yves Cheret as managing director for fund administration.

Mifsud joins from Edmond de Rothschild where he spent the last two years as head of the private equity and real estate desk - depositary bank supervision. Prior to this, he worked at Citco Group as depositary account manager - private equity, real estate and debt funds. He also held various leadership roles at KBL European Private Bankers, UBS, Natixis and Caceis.

Cheret joins from Ocorian, where he spent the last two years. He initially joined the firm as director, client development and rose through the ranks to his most recent position of executive director - CSSF authorised manager. Prior to this he was director, client development at Arendt Services. Before this he was a director at Crestbridge for three years. Cheret also held various positions at Kuhn, Alter Domus, Wolseley and Comptoir des Fers et Métaux.

Mifsud and Cheret both report to Laurent Bélik, managing director of capital markets Europe, who is responsible for general management, including finance and operations in Luxembourg.

“Pierre and Yves will add tremendous value for our clients,” commented Bélik. “Because CSC is privately owned, we can invest additional time and effort to build long-term relationships with our clients and focus on the complexities of their unique needs and markets. We take the same approach with our employees, which has allowed us to develop and retain top industry talent to provide clients with the knowledge base, stability, and world-class service that CSC is known for, both locally and around the world.”

This is the second expansion for CSC this year, after the firm secured its Irish depositary licence in May, exactly one year after the business was granted a licence to provide fund administration in the jurisdiction.