Two trade unions said staff were notified by RBC I&TS CEO confirming plans of a new wave of layoffs for the Luxembourg site.
Tag: RBC I&TS
Former RBC I&TS, Northern Trust and Natwest Trustee and Depositary Services veteran to step down.
RBC I&TS names new global head of network management to its ranks.
RBC I&TS will provide custody and investment administration services for the Presima Yield Fund.
The decision to sell the business comes as RBC I&TS shifts its Asian strategy to focus on core markets and products.
By taking over RBC’s Australian client-base, Citi will become the second largest custodian in the country, behind JP Morgan.
New and disruptive technologies are causing a fundamental shift in mindset towards approaching legacy systems as custodians look to think outside the box.
Data will be a future revenue source for securities services providers, but custodians need to work harder at providing use cases for it before charging clients.
The former COO of global client coverage at RBC I&TS joins Standard Chartered in Hong Kong to lead the Greater China securities services business.
Luxembourg has emerged as an attractive destination for Asian asset managers that seek new fund channels for their products.