Dexia, the Luxembourg-based bank, and Royal Bank of Canada have agreed to merge their institutional investor services to create a new company with $1.8 trillion (€1.5 trillion) in assets under custody.

José Placido, currently executive vice-president of RBC Global Services, will be chief executive of the new company, RBC Dexia Investor Services. Marc Hoffman, chief executive of Dexia Banque International à Luxembourg, will be chairman.

Dexia and RBC merge investor services arms

James Rutter

Dexia

Royal Bank of Canada

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