RBC Investor Services has its headquarters located in the iconic Terres Rouges building in Esch-Belval. The firm is now part of Caceis. Library photo: Matic Zorman/Maison Moderne

RBC Investor Services has its headquarters located in the iconic Terres Rouges building in Esch-Belval. The firm is now part of Caceis. Library photo: Matic Zorman/Maison Moderne

On Monday 3 July, Caceis, a subsidiary of the Crédit Agricole group and Santander, announced the successful completion of the acquisition of the European asset servicing activities of RBC Investor Services and its associated Malaysian centre of excellence.

Caceis is a prominent global provider of asset servicing and fund administration services, offering a comprehensive range of solutions to institutional clients such as custody, fund accounting, middle-office services, and risk and reporting solutions. Caceis has a major presence in Luxembourg and other European and global financial centres.

The acquisition, initially in October 2022, has received all necessary regulatory and antitrust approvals. This strategic move enables Caceis to expand its international coverage and strengthen its position in European asset servicing.

Furthermore, Caceis also disclosed plans for the acquisition of the business of the UK branch of RBC Investor Services Trust and RBC Investor Services business in Jersey, which is expected to take place in the coming months, pending the required regulatory approvals, the company stated in its press release.

Jean-Pierre Michalowski, CEO of Caceis, stated, “This deal further strengthens Caceis’ leadership position as a front-running asset servicing player. I believe that the staff who are joining us are proud to be part of our group. Together we will construct the benchmark for the sector in Europe. With motivated individuals all working collectively to serve our clients, we are on the right track.”

Francis Jackson, CEO of RBC Investor Services, added, “We are incredibly proud of the business we have built in Europe and pleased that both clients and employees of our business will benefit from being part of what is expected to become one of the largest asset servicing providers in Europe. We believe the complementary services, combined scale and joint expertise of RBC’s Investor Services’ European business and Caceis will bring more opportunity for employees and greater value for clients.”

RBC Investor Services, a division of Royal Bank of Canada, ranked as the ninth largest bank in Luxembourg in terms of total assets in 2021 and employed 1,000 individuals.

Updated, 3 July at 4pm, to correct an earlier version of this article that mistakenly identified the location of Caceis’s headquarters

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