April 17, 2019 / 5:46 AM / 2 days ago

Credit Agricole and Santander to combine custody and asset servicing arms

PARIS, April 17 (Reuters) - French bank Credit Agricole and Spanish bank Santander plan to combine their custody and asset servicing operations in a deal that would create a new global leader, the banks said on Wednesday.

In a joint statement, the banks said the new entity would have about 3,340 billion euros ($3.8 trillion) in assets under custody and about 1,833 billion euros in assets under administration. ($1=0.8846 euros) (Reporting by Sudip Kar-Gupta; Editing by Clarence Fernandez)

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