RBC Investor Services Bank, a subsidiary of Royal Bank of Canada, has agreed to offload its Spanish investor services business RBC Investor Services España and its subsidiary RBC Investor Services Activos to Banco Inversis for an undisclosed sum.

Under the agreement, Inversis will continue to serve RBC Investor & Treasury Services’ domestic customers in Spain and also serve as local sub-custodian of RBC I&TS.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Additionally, Inversis will refer any current and future customers seeking international fund services to the solutions and expertise of RBC I&TS and to its Luxembourg and Ireland operations.

Furthermore, RBC I&TS will support Inversis with any client wishing to establish funds in the leading domiciles of Luxembourg and Ireland.

RBC Investor & Treasury Services CEO Harry Samuel said: "The sale of our Spanish investor services business to Inversis presents an opportunity to enter into a strategic relationship with a strong, stable provider which is fully focused on the institutional business in Spain.

"The strategic relationship with Inversis also supports our specialist strategy focused on providing both offshore and onshore asset services for global asset managers, further leveraging our leading position in Luxembourg and Ireland.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

"We will work closely together with Inversis to ensure a seamless process for clients and a smooth transition for I&TS Spain’s employees," added Samuel.

Subject to regulatory approvals and customary closing conditions, the transaction is expected to be complete in the summer of 2016.

Established in 2001, Inversis offers products, solutions and investment and custody services to institutional clients with assets under custody of EUR53bn. The company has more than 70 institutional clients in Spain and worldwide, which serves around a million end-customer accounts.