Since 1st June 2024, less than a year after the acquisition of Royal Bank of Canada’s (RBC) European asset servicing activities, all staff in each location are now regrouped under common legal structures. On the client side, the migration project is also underway and is scheduled for completion by the end of 2024.
Having obtained regulatory authorisations, CACEIS updated its legal structures by combining entities in France, Luxembourg, Belgium, Ireland and Switzerland. At the end of March 2024, CACEIS posted new record figures of over €5 trillion in assets under custody and over €3.4 trillion in assets under administration.
Jean-Pierre Michalowski, chief executive officer of CACEIS, said in a statement: “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…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.”