TORONTO, May 11, 2015 /CNW/ - RBC Investor & Treasury Services, part of Royal Bank of Canada (RY on TSX and NYSE), today announced that it has extended its relationship with Sun Life Financial Canada, having been appointed as custodian and fund administrator for its new line of segregated funds in the Canadian market.
RBC Investor & Treasury Services is Canada's largest custodian and third party fund administration and shareholder services provider, and is a top 10 global custodian as measured by assets under administration, with the highest credit ratings among its peers. RBC Investor & Treasury Services is also a leader in Canadian clearing, cash management and trade finance for financial institutions worldwide.
Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth products and services to individuals and corporate customers. As of December 31, 2014 the Sun Life Financial group of companies had total assets under management of $734 billion.
RBC Investor & Treasury Services has an extensive history with Sun Life Financial, dating back to 1989.
"We are delighted to be appointed by Sun Life Financial - a strong global brand with a history of partnerships across RBC," said Harry Samuel, chief executive officer, RBC Investor & Treasury Services. "We look forward to extending our successful relationship with Sun Life Financial Canada to support their growth with the launch of their new segregated funds."
"We are excited to launch Sun Life Guaranteed Investment Funds, our new industry-leading suite of segregated fund products designed to allow investors to save with protection in a volatile market, access money when they need it and, with the retirement income products, receive lifetime guaranteed retirement income," said Brigitte Parent, SVP Individual Insurance & Wealth, Sun Life Financial Canada. "We are pleased to be working with RBC Investor & Treasury Services, our fund administration partner. The breadth and depth of RBC in the Canadian custodial space as well as their expertise with fund administration were key elements in our decision to partner with them."
About RBC Investor & Treasury Services
RBC Investor & Treasury Services (RBC I&TS) is a specialist provider of asset services, custody, payments and treasury services for financial and other institutional investors worldwide. We serve clients from 18 locations across North America, Europe, Asia and Australia, delivering custodial, advisory, financing and other services to safeguard clients' assets, maximize liquidity and manage risk in multiple jurisdictions. RBC I&TS ranks among the world's top 10 global asset servicing businesses, with CAD 3.7 trillion (USD 3 trillion) in client assets under administration (as at January 31, 2015).
Royal Bank of Canada is Canada's largest bank, and one of the largest banks in the world, based on market capitalization. We are one of North America's leading diversified financial services companies, and provide personal and commercial banking, wealth management, insurance, investor services and capital markets products and services on a global basis. We employ approximately 78,000 full- and part-time employees who serve more than 16 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 39 other countries. For more information, please visit rbc.com.
RBC supports a broad range of community initiatives through donations, sponsorships and employee volunteer activities. In 2014, we contributed more than $111 million to causes worldwide, including donations and community investments of more than $76 million and $35 million in sponsorships.
© Royal Bank of Canada 2013. RBC Investor & Treasury Services™ is a global brand name and is part of Royal Bank of Canada. RBC Investor & Treasury Services is a specialist provider of asset servicing, custody, payments and treasury services for financial and other institutional investors worldwide. RBC Investor Services™ operates through two primary operating companies, RBC Investor Services Trust and RBC Investor Services Bank S.A., and their branches and affiliates. In the UK, RBC Investor Services Trust operates through a branch authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
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