RBC Dexia Investor Services has been appointed by Middlefield Group, a financial services company, to provide outsourced fund administration activities for its closed end funds.
“RBC Dexia has provided us with excellent custody services since we transferred this business to them and expanding the services program to encompass fund administration was a natural evolution of our relationship, said Garth Jestley, President and CEO of Middlefield Group. “This outsourcing contract will apply to all of our closed end funds and will deliver significant operational efficiencies as we continue to expand our funds platform.
“We are pleased by this new mandate win and by Middlefield’s commitment to our outsourcing capabilities”, said John Lockbaum, Managing Director, Canada for RBC Dexia Investor Services. “This demonstrates the added value our investor services model can deliver to a fund management business that operates across different jurisdictions.”