RBC Investor & Treasury Services selected as global custodian by Industrial Alliance
RBC Investor & Treasury Services, part of Royal Bank of Canada, has announced that its Investor Services business has been retained as global custodian provider to Industrial Alliance.Insurance and Financial Services one of the largest public companies in Canada.
RBC Investor & Treasury Services will continue to provide custody, foreign exchange and securities lending services for Industrial Alliance.
Commenting on the mandate, John Lockbaum, managing director, Canada, RBC Investor & Treasury Services, said: “Our history with Industrial Alliance, as well as our proven track record and leading position supporting Canadian insurers means we are ideally positioned to work with such an established company.”
Sylvain Côté, senior director administration, systems and investment risk monitoring, Industrial Alliance said: “RBC Investor & Treasury Services was a logical choice for us. We have successfully partnered in the past and they have proven that they fully understand how we work and are aligned with our business.”
The fourth largest life and health insurance company in Canada, Industrial Alliance has operations across Canada and in the United States.
RBC Investor & Treasury Services began its relationship with Industrial Alliance in 1998 when selected as custodian. It later expanded the relationship in October 2006 when selected as custodian by subsidiary IA Clarington Investments Inc.