CACEIS , a subsidiary of Crédit Agricole group and Santander , has purchased the European asset servicing activities of RBC Investor Services and its associated Malaysian centre of excellence. This transaction, which has received all required regulatory and antitrust approvals, combines two strong asset servicing operations in Europe.

With this purchase, CACEIS gains broader international coverage and an expanded offering for all its clients. Covering the entire value chain, CACEIS is strengthening its position in European asset servicing. The transaction excludes RBC Investor Services' Canadian operations.

Officials from CACEIS this deal further strengthens CACEIS' position as a front-running asset servicing player. Together with the new staff from the acquired businesses, they will construct the benchmark for the sector in Europe. Executives from RBC Investor Services added that they are happy of the business they have built in Europe and pleased that both clients and employees of their business will benefit from being part of what is expected to become one of the largest asset servicing providers in Europe.

They 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. Previous developments from CACEIS In September 2020, fintech FIS has entered an agreement with CACEIS to provide the asset servicing company with cross-border payment solutions. With custodial assets of over EUR 3.9 trillion, CACEIS provides execution, clearing, securities lending, custody, and fund services to asset managers and institutional and corporate clients worldwide.

The firm was looking for a platform to standardise its cross-border payments, while complying with ISO 20022 and other emerging payments standards. .