16/06/23 (Agence Europe) – On Friday 16 June, the European Commission announced that it had approved the acquisition of sole control of the whole of RBC Investor Services Bank S.A. (Luxembourg) and RBC Offshore Fund Managers Limited (Guernsey), which provide custody, fund management, transfer agency, middle-office and securities lending services. At the same time, the Commission approved the acquisition of certain assets and liabilities of the UK branch of RBC Investor Services Trust by CACEIS (France). CACEIS is the subsidiary controlled by Crédit Agricole SA that provides banking, insurance and asset management services. The Commission concluded that the proposed acquisition would not raise competition concerns, in particular because the combined position of the merged entities on the markets concerned would remain moderate. Link to case: https://aeur.eu/f/7kn (EV)