RBC Appoints Simon Hirtenstein as Head, Portfolio Solutions

London, July 4, 2012 – RBC Dexia Investor Services today announced that it has appointed Simon Hirtenstein as Head, Portfolio Solutions within its Market Products & Services (MPS) team.

Reporting to Susan Pike, Global Head, Market Products & Services (MPS), Mr. Hirtenstein will be based in RBC Dexia’s London office and work closely with MPS Product Managers. He will direct the necessary support to enterprise custody sales, product pricing, product rollouts and enhancements. In addition, Simon will be responsible for direct sales of Market Products and Services on a third party basis.

Prior to joining RBC Dexia, Mr. Hirtenstein held a number of senior leadership roles in Canada, the UK and Bermuda, including a position at HSBC Securities Services where he led a program that built and introduced a third party securities lending platform. Most recently he was a consultant director with SIAM consulting, a business focusing on strategic consulting, operational improvement, product development and offshoring. Previous roles included Senior Relationship Manager, Offshore at Wealth, where he built a business proposition to provide client solutions in the Fund and Private Equity sectors, and Vice President, Senior Business Change Manager at HSBC Bank Bermuda.

Susan Pike commented: “We welcome Simon to RBC Dexia and look forward to the strong contribution he will make in assisting product managers to maximize client returns with our securities lending programme and in supporting our unique suite of market products and services. Simon’s experience in senior, global positions demonstrates our ability to attract top talent and our commitment to developing customized and client-centric market product solutions.”

RBC Dexia Investor Services was recently named Leading UCITS Custodian and Fund Administrator by Hedge Fund Journal and also recently maintained its overall number one position in the influential R&M Consultants Global Custody Survey . RBC Dexia came first in the UK for the seventh year running and was also elected best custodian in Europe, Canada, North America, Far East and BeNeLux.

About RBC Dexia Investor Services RBC Dexia Investor Services offers a complete range of investor services to institutions worldwide. Our unique offshore and onshore solutions, combined with the expertise of our 5,500 professionals in 15 markets, help clients grow their business and sustain enhanced performance through efficiency improvements and robust risk management practices.

Equally owned by RBC and Dexia, the company ranks among the world's top 10 global custodians with USD 2.9 trillion in client assets under administration. www.rbcdexia.com Join our LinkedIn group Follow us on Twitter

For more information, contact:

Jason Graham (North America) Adam Lister (London) +1 416-955-5800 +44 (0)20 7653 4978 [email protected] [email protected]

RBC Dexia Investor Services Limited is a holding company that provides strategic direction and management oversight to its affiliates, including RBC Dexia Investor Services Bank S.A., a credit institution licensed in Luxembourg by the Commission de Surveillance du Secteur Financier and the Ministry of Finance. All are licensed users of the RBC trademark (a registered trademark of ) and Dexia trademark (a registered mark of Dexia Crédit Local) and conduct their global custody and investment administration business under the RBC Dexia Investor Services brand name.