Royal Bank of Canada has completed the acquisition of the 50% stake of 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 global custodian, which is being rebranded RBC Investor Services.
“The industry fundamentals are very attractive and this business is positioned for solid long-term growth,” said Jim Westlake, group head of international banking and insurance with RBC. “We look forward to building on our strong relationships with clients in our goal to become the premier provider of investor services worldwide.”
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.