RBC Investor & Treasury Services, which is part of the Royal Bank of Canada, will continue to provide custody and administration services to Perpetual.
“We’re committed to providing Perpetual with an outstanding client experience through the delivery of operational excellence and an enhanced focus on client collaboration,” RBC Investor & Treasury Services managing director, Australia, David Travers said.
The firm, which has worked with Perpetual since 2001, will also offer unit pricing, fund accounting, and tax and foreign exchange services.
Perpetual general manager of operations and business, Paul Statham, said the company is pleased to extend its long-term partnership.
“Perpetual is excited by RBC’s commitment to Australia and its focus on enhancing its technology and operational efficiency,” Mr Statham said.
“RBC has the operational capability and client focus to support our growth, and they come with the backing of one of the largest banks in the world with the highest credit rating of all the global custody providers operating in Australia.”
Read more:
Investors moving into managed funds
Australia exposed to ‘inevitable’ global downturn
Yellen flags ‘gradual’ interest rate policy
Govt backs competition in equities clearing
ANZ to refund $5 million for incorrect fees
