Royal Bank of Canada today announced it has completed the acquisition of the 50 percent stake of investment services firm RBC Dexia Investor Services Limited that RBC did not already own from Banque Internationale à Luxembourg S.A. With this transaction, RBC becomes the sole owner of the firm, which is being rebranded RBC Investor Services.
According to Royal Bank of Canada, the firm is a top 10 global custodian with a focus in client service excellence and 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, said the bank.
"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, RBC, in a statement. "We look forward to building on our strong relationships with clients in our goal to become the premier provider of investor services worldwide."
Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio