RBC Dexia appointed by Amundi Iberia 16 May 2011Madrid Reporter: Steven Lafferty
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RBC Dexia Investor Services has been appointed by Amundi Iberia SGIIC SA as the provider of automated fund administration services for its suite of collective investment funds (IIC). The deal will allow Amundi Iberia to improve the administration of its IICs while retaining overall control of the processes. As part of the agreement, RBC Dexia has integrated three Amundi Iberia employees to ensure a seamless provision of its services.
Michel Escalera, Managing Director of Amundi Iberia, said: "RBC Dexia's experience and consultative approach were key in our decision to subcontract our fund administration services to them. We are very pleased with how smoothly they have managed the transfer of our operations and staff."
Amundi Iberia, the Spanish subsidiary of the company created last year from the merger of Crédit Agricole and Société Générale's asset management divisions, manages 46 investment vehicles with total assets of EUR 750 million as of 31 December 2010.
Commenting on the deal, Jose-Maria Alonso Gamo, Managing Director of RBC Dexia Spain, said: "This is a crucial appointment for us, cementing the position of RBC Dexia Activos, our fund administration division, as Spain's largest third party service provider. We are delighted to welcome our new employees and look forward to working with them on this exciting new challenge."
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