|
|
Oliver Laurent By Beverly Chandler, Opalesque London
The Canadian Belgian partnership that is RBC Dexia will shortly be all Canadian as the Belgian company is completely bought out in a deal announced in April whereby RBC bought the 50% stake that it did not already own in the joint venture RBC Dexia from Banque Internationale Luxembourg. The deal went through for a total consideration of 837.5 Euros ($1bn) in cash. Following the closing of the transaction RBC will own 100 per cent of RBC Dexia.
RBC Dexia has built itself a top 10 global custodian, fund administration, shareholder and treasury services business, specialising in administering and providing custodian services for 'regulated hedge funds, such as those that come in the Ucits format. Oliver Laurent is Director of Alternatives at RBC Dexia, responsible for North America, Europe and Asia and for hedge funds, funds of funds, OTC business and private equity in those areas. "We have a little more than 110 bn Euros ($137bn) in assets" he explains, with about 50bn Euros ($62bn) in hedge funds.
Key geographies for the business are Luxembourg where 60bn Euros ($75bn) of assets are under administration, the Dublin, France and Canada. They also have offices in Hong Kong, Singapore and Australia. The firm started 10 years ago, specifically to administer the hedge funds offered by Dexia Asset Management and it branched out to offer its services beyond their in-house connections. Now, some 85 percent of the ...................... To view our full article Click here
|
|
RSS
