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RBC Dexia to buy depository bank business
30 September 2009
RBC Dexia and Unione di Banche Italiane scpa have entered into an agreement for UBI Banca to transfer its depositary bank business to RBC Dexia.
RBC Dexia Investor Services (RBC Dexia) and Unione di Banche
Italiane scpa (UBI Banca) have entered into an agreement for
UBI Banca to transfer its depositary bank business to RBC
Dexia. The business has over €19 bn in assets under
custody mainly related to the fund management activities of UBI
Banca’s subsidiary UBI Pramerica, the third
largest fund manager in Italy.
The agreement also includes certain correspondent bank
agreements regarding the provision of paying...
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