Source: RBC Dexia Investor Services
RBC Dexia Investor Services and CI Financial Income Fund today announced they have agreed to extend their investor services outsourcing relationship by five years, through to mid-2011.
Under this outsourcing arrangement, RBC Dexia will continue to provide custody, fund accounting and securities lending services to CI Financial and will act for Assante Wealth Management as the primary custodian for the private clients of Stonegate Private Counsel and United Financial Corporation.
"We've enjoyed a very positive working relationship with RBC Dexia since 2001 and we are extremely confident in our decision to extend our outsourcing agreement for another five years," said David Pauli, CI Financial Executive Vice President. "We continue to be impressed - not only by RBC Dexia's track record and high quality of service - but by the commitment to the wider business we see through the recent joint venture between RBC and Dexia."
This outsourcing relationship with CI Financial continues to be the largest of its kind in the Canadian market, with RBC Dexia providing custody and investment administration services for CI's investment fund assets totalling $62 billion, which includes all CI assets under management, as well as third-party managed assets.
"We are extremely pleased to be extending our working relationship with an institution as widely respected as CI Financial," said José Placido, Chief Executive Officer of RBC Dexia. "Based on the ongoing success of our outsourcing arrangement, CI Financial has once again demonstrated its confidence in us and we look forward to continuing this successful relationship well into the future."