TORONTO, Jan. 27 /CNW/ - RBC Dexia Investor Services today announced that it has been appointed by Middlefield Group, a financial services company with offices in Calgary, Toronto, San Francisco and London, England, to provide outsourced fund administration activities for its closed end funds.
"RBC Dexia has provided us with excellent custody services since we transferred this business to them and expanding the services program to encompass fund administration was a natural evolution of our relationship," said Garth Jestley, President and CEO of Middlefield Group. "This outsourcing contract will apply to all of our closed end funds and will deliver significant operational efficiencies as we continue to expand our funds platform.
"We are pleased by this new mandate win and by Middlefield's commitment to our outsourcing capabilities," said John Lockbaum, Managing Director, Canada for RBC Dexia Investor Services. "This demonstrates the added value our investor services model can deliver to a fund management business that operates across different jurisdictions."
RBC Dexia Investor Services was recently ranked number one overall in the Global Investor Global Custody Survey for the sixth consecutive year (2004 - 2009). RBC Dexia also excelled in the annual R&M Consultants Global Custody Survey, and was ranked the number one service provider by fund managers and number one for Europe in Global Custodian's 2009 Global Custody Survey. RBC Dexia was also named Global Custody: Client Relationship Manager of the Year in ICFA's 2009 Global Awards.
Formed in 1979, Middlefield manages private and public resource funds, closed-end funds, mutual funds, real estate funds, a venture capital fund and other investments both in Canada and abroad. Its clients include Canadian and international financial institutions, corporations and individuals. An innovator in the financial services industry, Middlefield has developed particular expertise in the oil and gas, mining and real estate sectors, including tax-advantaged forms of investment vehicles.
About RBC Dexia Investor Services
RBC Dexia Investor Services offers a complete range of investor services to institutions worldwide. Our unique offshore and onshore solutions, combined with the expertise of our 5,300 professionals in 16 markets, help clients grow their business and sustain enhanced performance through efficiency improvements and robust risk management practices.
Equally owned by RBC and Dexia, the company ranks among the world's top 10 global custodians with USD 2.4 trillion in client assets under administration.
SOURCE RBC Investor & Treasury Services
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