Annual report 2005 - Dexia.com

When it comes to investor services, credibility isnot just a matter of skills: it is also a question ofdimension.With Dexia Fund Services (DFS) and its subsidiary FirstEuropean Transfer Agent (FETA), Dexia was among therecognized specialists on the market of fund administration.Already present in 11 countries in Europe and Asia,Dexia Fund Services offered a wide range of services toinvestment funds, as custodian bank, administrative agentand transfer agent. However, despite the exponentialgrowth of its results, DFS remained a flyweight comparedto the giants of the sector. In 2005, Dexia thereforetook the strategic decision to seek a powerful ally. Bymerging DFS with the twin entity of Royal Bank of Canada(RBC), Dexia BIL concluded a partnership which bore astrong resemblance to the ideal alliance. In phase withtheir business line philosophies, the two operators arecomplementary in terms of size, services and geographiccoverage: beyond its added value services, RBC GlobalServices contributes a solid portfolio of clients in Canada,and also in the United Kingdom and Australia. Created on2 January 2006, RBC Dexia Investor Services goes straightinto the world top ten of custodian banks (EUR 1,650billion in client assets), and its geographic coverage extendsover 15 countries and 4 continents. The young companynow offers a most comprehensive range of services: asolid basis upon which to embark upon its new long-termvoyage, from which to gain momentum for its internationaldevelopment and from which to provide appropriate andinnovative responses to each of its clients around the world.90