Credit Agricole-owned CACEIS buys RBC investor services arms in Europe and Malaysia

CACEIS, the asset servicing business owned by Crédit Agricole and Santander, said on 17 October that it will buy the Royal Bank of Canada's (RBC's) European asset servicing business and its related Malaysian service centre. The acquisition from Toronto-based RBC includes approximately €1.2trn in assets under administration through its fund services business and approximately €0.5trn in assets under custody. With this acquisition, CACEIS will expand its AUC to approximately €4.8trn and assets under administratio to approximately €3.5trn. The two banks signed the Memorandum of Unders...