RBC buys remainder of RBC Dexia Investors Services Limited
Royal Bank of Canada has completed the acquisition of the remaining 50% stake in RBC Dexia Investor Services Limited from Banque Internationale à Luxembourg, to affirm its position as a top 10 global custodian with €2.1trn in client assets under administration.
The business is being rebranded RBC Investor Services, and will be included as part of RBC’s International Banking area, which includes results from RBC’s Caribbean banking and US cross-border banking businesses. Investor Services includes some 5,500 staff working in 15 markets.
José Placido, chief executive officer of RBC Investor Services said: “We are excited about full ownership by RBC and have been encouraged by the response from our clients around the world since the announcement of this transaction in April.”
“Our clients will benefit from RBC’s financial strength, complementary capabilities through wealth management and capital markets, and commitment to growth.”