(News Bulletin 247) – CACEIS, a subsidiary of the Crédit Agricole group and Santander, and Royal Bank of Canada (RBC) announce the completion of the acquisition by CACEIS of the European asset servicing activities of RBC Investor Services and its center of excellence partner located in Malaysia.
‘Thanks to this operation, CACEIS benefits from international coverage and an expanded offer to serve its customers. Covering the entire value chain, CACEIS is strengthening its position as the European leader in asset servicing,” the group says.
This transaction will have a minimal impact on RBC’s Tier 1 (CET1) capital ratio and earnings per share (EPS).
The Canadian operations of RBC Investor Services are not included in the transaction.
Jean-Pierre Michalowski, Chief Executive Officer of CACEIS, said: ‘This operation strengthens the leadership of CACEIS, a leading European player in asset servicing. Together we will build the industry benchmark in Europe. Thanks to the individual and collective commitment of our employees to the service of our customers, the future of our Group is promising.’
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