RBC acquires remaining 50% state of RBC Dexia
Royal Bank of Canada (RBC) has completed the acquisition of the remaining 50% of RBC Dexia Investor services limited, provider of Investor Services to asset managers, financial institutions and other institutional investors.
Following the transaction, RBC has become the sole owner of the global custodian, now rebranded RBC Investor Services.
“The industry fundamentals are very attractive and this business is positioned for solid long-term growth,” said Jim Westlake, group head, international banking and insurance at RBC.
José Placido, chief executive at RBC investor services added: “Our clients will benefit from RBC’s financial strength, complementary capabilities through wealth management and capital markets, and commitment to growth.”
RBC Investor Services has €2.1tr in client assets under administration and is a wholly-owned subsidiary of Royal Bank of Canada.