RBC Investor & Treasury Services (RBC I&TS), part of Royal Bank of Canada (RY on TSX and NYSE), has been appointed custodian by First Block Capital (First Block), on its new actively managed FBC Distributed Ledger Technology Adopters ETF, which launched on 11 October 2018.
RBC I&TS will also provide fund valuation, ETF administration and tax reporting services.
This is the fourth new ETF mandate for RBC I&TS this year and reflects the focus on delivering strong client service while providing best-in-class products and experiences. The investment in technology ensures RBC I&TS can enhance the value of client data, creating insight-based solutions for clients in Canada and around the world.
“As newcomers to ETFs, it was essential for First Block Capital to partner with a team whose collaborative, professional culture and strong technology platform complemented our ETF ambitions,” says Bill Stormont, Chief Operating Officer, First Block Capital. “RBC IT&S’ client-centric approach was a key success factor for our launch and we look forward to working with them in the future as we grow our presence in this space.”
“Our new mandate with First Block demonstrates that RBC Investor & Treasury Services possesses the skills, technology and client service capabilities to benefit the ETF sector,” says David Linds, Head, Asset Servicing Canada, RBC Investor & Treasury Services. “We are pleased to assist First Block with its custody, fund valuation, ETF administration and tax reporting services and remain confident we can continue to respond to the evolving needs of First Block, and the ETF markets.”