CACEIS and Royal Bank of Canada sign a Memorandum of Understanding on the proposed acquisition of RBC Investor Services operations in Europe
CACEIS and Royal Bank of Canada (RBC) have signed a Memorandum of Understanding on the potential acquisition by CACEIS of RBC Investor Services operations in Europe. This would include custody, global custody FX, fund administration, transfer agency, middle office and securities lending.
This transaction would further enhance CACEIS’ positioning as one of the global leader in asset servicing in Europe and worldwide, having a full coverage of the value chain and an expanded offering for both existing and new clients.
This transaction would be in line with the Group's development objectives and would respect our profitability criteria with an expected return on investment of more than 10% over 3 years thanks to the realisation of synergies.
The completion of the contemplated transaction will be subject to customary closing conditions, including regulatory approvals, and is expected to take place by end of the third quarter of 2023.