Royal Bank Of Canada Sells RBC Investor Services' European And Malaysian Operations

Royal Bank of Canada RY announced the sale completion of its Investor Services' operations in Europe and Malaysia to CACEIS, the subsidiary of Credit Agricole SA CRARY CRARF and Santander UK PLC STNDF for an undisclosed term.

The deal excludes RBC Investor Services' Canadian operations, combining two asset-servicing solid European operations.

"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," said Francis Jackson, CEO of RBC Investor Services. 

In May, RY reported a Q2 FY23 adjusted net income of C$3.8 billion, down 13% Y/Y, and adjusted EPS declined by 11% Y/Y to C$2.65.

Price Action: RY shares closed higher by 0.79% at $95.51 on Friday.