Aegon Canada and RBC Dexia Investor Services have signed a letter of intent to have RBC Dexia provide investment accounting services to Aegon for its portfolio of 160 funds worth C$8.5 billion.

Aegon Canada provides Canadians with life insurance and investment products through its operating subsidiaries Transamerica Life Canada, Aegon Fund Management and Aegon Capital Management.

Aegon Canada said that one of the key features of this relationship involves the integration of its investment accounting employees into RBC Dexia’s operation in Toronto.

Jose Placido, CEO of RBC Dexia, said: We believe this decision is a strong endorsement of the intrinsic value institutional investors can realize by entrusting their middle and back office functions to RBC Dexia. There is a strong cultural alignment between our two companies, including a shared commitment to client service excellence.