CACEIS takes over the business activities of RBC Investor Services

CACEIS and Royal Bank of Canada complete the acquisition of RBC Investor Services' operations in Europe and Malaysia. All regulatory and antitrust approvals have been obtained.

Paris - Today, CACEIS, a subsidiary of Crédit Agricole Group and Santander, and Royal Bank of Canada (RBC) announced the completion of the sale of RBC and the purchase by CACEIS of the European wealth management activities of RBC Investor Services and its associated Center of Excellence in Malaysia.

This agreement further strengthens CACEIS' leadership position as a leading provider of wealth management services. I am confident that the employees joining us will be proud to be part of our group.

Jean-Pierre Michalowski, CEO CACEIS

This transaction, which has received all necessary regulatory and antitrust approvals, combines two strong asset management operations in Europe.

With this transaction, CACEIS expands its international coverage and offering to all its clients. By covering the entire value chain, CACEIS strengthens its leading position in European wealth management. The acquisition by CACEIS of the business of RBC Investor Services Trust's UK branch and RBC Investor Services' Jersey business is expected to take place in the coming months, subject to the necessary regulatory approvals.

We believe that the complementary services, combined scale and expertise of the RBC Investor Services and CACEIS European businesses will provide both greater opportunities for employees and greater value for clients.

Francis Jackson, CEO RBC Investor Services

The results of the operations sold will have minimal impact on RBC's Common Equity Tier 1 (CET1) ratio and earnings per share (EPS). The transaction excludes RBC Investor Services' Canadian operations.

CACEIS is the asset servicing banking group of Crédit Agricole S.A. and Santander and focuses on asset managers, insurance companies, pension funds, banks, private equity and real estate funds, brokers and corporate clients. With offices throughout Europe, the Americas and Asia, CACEIS offers a wide range of services, including execution, clearing, foreign exchange, securities lending, custody, custodial and fund administration, transfer agency, fund distribution support, middle office outsourcing and issuer services. With €4.1 trillion in assets under custody and €2.2 trillion in assets under management, CACEIS is a European leader in asset servicing.

Royal Bank of Canada (RBC) is a global financial institution with a purpose-driven, principle-led approach to leading service delivery. It is Canada's largest bank, employs over 98,000 people and pursues a diversified business model with a focus on innovation.