RBC I&TS appointed custodian for First Block Capital’s ETFs
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RBC I&TS appointed custodian for First Block Capital’s ETFs 30 October 2018Toronto Reporter: Maddie Saghir
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RBC Investor & Treasury Services (RBC I&TS) has been appointed custodian by First Block Capital Inc (First Block) on its new actively managed FBC distributed ledger technology adopters exchanged-traded funds (ETF).
RBC I&TS will also provide fund valuation, ETF administration, and tax reporting services.
According to RBC I&TS, this is the fourth ETF mandate the bank this year and it reflects their focus on delivering strong client service while providing best-in-class products and experiences.
RBS I&TS can enhance the value of client data, creating insight-based solutions for clients in Canada and around the world.
Bill Stormont, COO, First Block Capital, said: "As newcomers to ETFs, it was essential for First Block Capital to partner with a team whose collaborative, professional culture and strong technology platform complemented our ETF ambitions.”
“RBC IT&S’ client-centric approach was a key success factor for our launch and we look forward to working with them in the future as we grow our presence in this space.”
David Linds, head of asset servicing Canada, RBC I&TS, said: “Our new mandate with First Block demonstrates that RBC I&TS possesses the skills, technology and client service capabilities to benefit the ETF sector.”
“We are pleased to assist First Block with its custody, fund valuation, ETF administration and tax reporting services and remain confident we can continue to respond to First Block’s, and the ETF market’s, evolving needs.”
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