PARIS Oct 12 CACEIS, the asset servicing branch
of Credit Agricole, will absorb French farm
cooperative InVivo's grain brokerage unit Sigma Terme in a new
unit to be launched on November 1, subject to regulatory
approval, InVivo said on Wednesday.
The trading and compensation activities of the two groups
will be done under the CACEIS brand but services offered to
Sigma Terme's clients as well as their usual contacts will
remain unchanged, an InVivo spokeswoman told Reuters.
She declined to give further details on the agreement.
Jean-Loic Begue-Turon, head of derivatives at Sigma Terme,
one of France's leading grain futures brokers, will join CACEIS
as of Nov. 1 to be in charge of agricultural commodities
development, she said.
(Reporting by Valerie Parent, writing by Sybille de La Hamaide,
editing by Gus Trompiz)