Industrial Alliance picks RBC for sec lending services
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Industrial Alliance picks RBC for sec lending services 20 June 2013Toronto Reporter: Jenna Jones
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Industrial Alliance Insurance and Financial services has named RBC Investor & Treasury Services, part of the Royal Bank of Canada, as its global custodian.
RBC Investor & Treasury Services will continue to provide custody, foreign exchange and securities lending services to Industrial Alliance.
Commenting on the mandate, John Lockbaum, managing director of RBC Investor & Treasury Services in Canada, said: 鈥淥ur history with Industrial Alliance, as well as our proven track record and leading position supporting Canadian insurers means we are ideally positioned to work with such an established company.鈥�
Sylvain C么t茅, senior director administration, systems and investment risk monitoring at Industrial Alliance said: 鈥淩BC Investor & Treasury Services was a logical choice for us. We have successfully partnered in the past and they have proven that they fully understand how we work and are aligned with our business.鈥�
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