RBC completes acquisition of Dexia share
RBC has completed the takeover of RBC Dexia Investor Services Limited, by acquiring Dexia’s 50% share of the business from Banque Internationale à Luxembourg S.A.
Approval for the transaction has been granted, and the bank has been rebranded to RBC Investor Services.
Jim Westlake, Group Head, International Banking and Insurance, RBC, said: “The industry fundamentals are very attractive and this business is positioned for solid long-term growth.
“We look forward to building on our strong relationships with clients in our goal to become the premier provider of investor services worldwide.”
RBC Investor Services said it has established itself as “a top 10 global custodian with particular strength in client service excellence and outstanding execution”.
Results for RBC Investor Services will continue to be included within RBC’s International Banking segment, which also includes results from RBC’s Caribbean banking and U.S. cross-border banking businesses.
RBC Investor Services has €2.1trn (C$2.8trn) in client assets under administration and is a wholly-owned subsidiary of Royal Bank of Canada.