Royal Bank of Canada has completed its purchase from Banque Internationale à Luxembourg of its 50 per cent share of RBC Dexia Investor Services, having received all necessary regulatory clearance.

As part of the change, the deal, originally announced on 3 April this year, the firm will change its name to RBC Investor Services, according to a statement from the Canadian bank.

When the deal was first announced, RBC said the cost of the deal amounted to a total of €837.5 million (C$1.1 billion) in cash, giving it 100 per cent control of the entity.

RBC Dexia Investor Services is a top 10 global custodian that serves institutional investors, with services such as global custody, fund and pension administration, shareholder services and treasury activities.