CACEIS takes over the business activities of RBC Investor Services

CACEIS and Royal Bank of Canada finalize 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 acquisition by CACEIS of RBC Investor Services' European asset management activities 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 convinced 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, brings together two strong wealth 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 UK branch of RBC Investor Services Trust and the RBC Investor Services business in Jersey is expected to take place in the coming months, subject to the necessary regulatory approvals.

We believe that the complementary services, combined scale and combined expertise of RBC Investor Services' European business and CACEIS will provide greater opportunities for staff and added value for clients.

Francis Jackson, CEO RBC Investor Services

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

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 across Europe, North and South America and Asia, CACEIS offers a wide range of services including execution, clearing, foreign exchange trading, securities lending, custody, custodian and fund administration, transfer agency, fund distribution support, middle office outsourcing and issuer services. With assets under custody of 4.1 trillion euros and assets under management of 2.2 trillion euros, CACEIS is a European market leader in asset servicing.

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