Dexia and Royal Bank today announced completion of the joint venture to combine their institutional investor services businesses.

The new company, RBC Dexia Investor Services, ranks among the world’s top 10 global custodians with assets under custody of approximately $2.29 trillion (1.65 trillion euros).

“With our combined strengths, expanded global reach and solid financial backing, RBC Dexia Investor Services offers clients both the breadth and depth necessary to enhance their business and become more efficient and competitive,” said José Placido, CEO of the new company, in a release.

“We are very excited to start this latest chapter in the investor services business. RBC Dexia Investor Services promises to bring clients and the market a new level of service, commitment and innovation,” added Michel Malpas, Deputy CEO and chief marketing officer.

Based in London, England, RBC Dexia Investor Services Ltd. is the holding company that will provide strategic direction and management oversight to the operating companies, RBC Dexia Investor Services Trust in Canada and RBC Dexia Investor Services Bank in Luxembourg.

Dexia Banque Internationale à Luxembourg (Dexia BIL) is a member of Dexia, the European banking group world leader in public finance and second largest commercial bank in Belgium.