Royal Trust Global Securities Services, the international custody arm of Royal Bank of Canada, has been awarded two global custody mandates from European clients.
Sun Life Financial of Canada in the UK has appointed Royal Trust as global custodian for its clients’ US$10bn assets under administration.
Stockholm-based Svenska Handelsbanken has appointed the firm as global custodian for US$3.1bn of client assets under administration, originating from the bank’s business units outside of Sweden.
“These successes reflect Royal Trust’s ongoing strategy to build our business in select high-growth international markets,” said Jose Placido, senior vice president of Royal Trust Global Securities Services.
By Resham Bhojwani
The Pensions Regulator (TPR) has granted 11 master trusts extensions to apply for authorisation, as it confirms it has received 22 applications ahead of the 31 March deadline.
Aegon Master Trust, Fidelity Master Trust and Ensign have sent off their authorisation applications to The Pensions Regulator (TPR).
Self-administered pension funds spent £15bn on payments to pensioners in Q4 2018, but received just £12bn in contributions (net of refunds), Office for National Statistics (ONS) data reveals.
Aberdeen Standard Investments (ASI) and Gresham House are to team up to form a joint venture.