RBC Dexia Investor Services has announced that it has been selected by RBC Global Asset Management to provide custody and trustee services to Canadian investment management company Phillips, Hager & North. Total value of the new mandate is CA$40 billion.
The asset transition is expected to be completed by April 1, 2010
RBC Dexias comprehensive range of solutions as well as the global scope and scale of their operations are complementary to our business, said John Montalbano, CEO of RBC Global Asset Management. Their high quality client service and rigorous risk management capabilities will be integral to RBC Global Asset Management as we continue to expand on our investment solutions platform worldwide.
Founded in Vancouver in 1964, Phillips, Hager & North has grown to become one of Canadas leading investment management firms.
We are very pleased to provide the custody and trustee services for one of Canadas most respected investment management firms, said John Lockbaum, Managing Director, Canada for RBC Dexia Investor Services. We can help synergize their institutional business and RBC Asset Managements retail business and provide efficiency and value for all their custodial needs.