RBC Dexia Investor Services has been appointed by Amundi Iberia SGIIC SA as the provider of automated fund administration services for its suite of collective investment funds (IIC).
The deal will allow Amundi Iberia to improve the administration of its IICs while retaining overall control of the processes. As part of the agreement, RBC Dexia has integrated three Amundi Iberia employees to ensure a seamless provision of its services.
RBC Dexias experience and consultative approach were key in our decision to subcontract our fund administration services to them, says Michel Escalera, managing director of Amundi Iberia. We are very pleased with how smoothly they have managed the transfer of our operations and staff.
Amundi Iberia, the Spanish subsidiary of the company created last year from the merger of Crdit Agricole and Socit Gnrales asset management divisions, manages 46 investment vehicles with total assets of 750 million as of Dec. 31, 2010.
This is a crucial appointment for us, cementing the position of RBC Dexia Activos, our fund administration division, as Spains largest third party service provider, says Jose-Maria Alonso Gamo, managing director of RBC Dexia Spain. We are delighted to welcome our new employees and look forward to working with them on this exciting new challenge.
(CG)