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Asset servicing banking group CACEIS has completed its integration of the Royal Bank of Canada Investor Services’ (RBC IS) European entities.
Less than a year after the acquisition of RBC’s European asset servicing activities, all staff in each location have now regrouped under common legal structures, the firm says.
On the client side, the migration project is also underway and is scheduled for completion by the end of 2024.
CACEIS has obtained regulatory authorisations, and in turn has updated its legal structures by combining entities in France, Luxembourg, Belgium, Ireland and Switzerland.
Commenting on the announcement, Jean-Pierre Michalowski, CEO of CACEIS, states: “I am especially proud of the journey our staff have achieved and of the trust shown by our existing and new clients, which allowed for a successful integration of RBC IS activities.
“We are delighted to have achieved this major milestone and now be united under CACEIS. Our group, with more than 7,000 men and women working in 18 countries around the world, is seeing the first positive effects of this acquisition.
“We are now in an even better position to act as a key business partner for our clients, helping them meet their business development objectives.”
