Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Credit Agricole and CACEIS to buy RBC Investor Services' Europe unit

Published 17/10/2022, 07:14
Updated 17/10/2022, 07:28
© Reuters. FILE PHOTO: A Credit Agricole logo is seen outside a bank office in Reze, near Nantes, France, June 20, 2022. REUTERS/Stephane Mahe

PARIS (Reuters) - CACEIS, the asset servicing business owned by French bank Credit Agricole (EPA:CAGR) and Spanish bank Santander (BME:SAN), has struck a preliminary deal to buy the European asset servicing business of RBC Investor Services.

The acquisition, due to be completed by the end of the third quarter in 2023, would result in CACEIS having about 4.8 trillion euros ($4.7 trillion) worth of assets under custody and 3.5 trillion euros of assets under administration, CACEIS said on Monday.

The acquisition of the European asset servicing activities of RBC Investor Services will also entail the takeover of an associated Malaysian division.

"This combination with RBC Investor Services helps us consolidate our position as a leading European player in asset servicing," said CACEIS Chief Executive Jean-François Abadie.

($1 = 1.0256 euros)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.