Also wins inaugural award for "Best Initiative of the Year in Relationship Management Technology"
TORONTO, Nov. 5, 2015 /CNW/ - RBC has been recognized as the "Best Private Bank in Canada" for the fourth consecutive year at the 2015 Global Private Banking Awards, presented by PWM (Professional Wealth Management) and The Banker magazines. RBC Wealth Management also won "Best Initiative of the Year in Relationship Management Technology." This award was a new and highly competitive category added this year. An awards gala celebrating the winners took place in Singapore on November 4, 2015.
"We are honoured to receive these awards because they recognize the unwavering commitment of our teams to helping our clients succeed," said Doug Guzman, group head, RBC Wealth Management & RBC Insurance. "We're also particularly gratified to be recognized for our investment in technology that helps our wealth advisors anticipate client needs and provide advice to meet their goals, ultimately ensuring RBC clients get the best possible experience."
The PWM/The Banker Global Private Banking Awards reward excellence in wealth management among banks from the Americas, Europe, Asia, the Middle East and Africa, based on rigorous qualitative and quantitative criteria. Evaluation measures include progress against business model and growth strategies, client relationship management, staff retention, and the evolution of asset allocation and product strategy in line with investor needs.
"We are pleased with the distinction as Canada's 'Best Private Bank,'" said Wayne Bossert, deputy chair, RBC Wealth Management. "This award is a testament to what we can achieve when we bring together the best of RBC to deliver unparalleled wealth planning, advice and solutions to our clients."
RBC Wealth Management continues to win recognition for its global leadership in wealth management, with a number of other industry award wins in 2015, including:
- RBC Wealth Management was recognized as the world's fifth largest global wealth manager in Scorpio Partnership's Global Private Banking Benchmark, an annual survey of the global wealth industry.
- RBC Wealth Management won five awards at the second annual Family Wealth Report Awards. These awards included #1 ranking in: "Institutional Trust or Fiduciary Company", "Private Bank - Wealth Structuring Offering" and "PR Program", as well as top "Global Custodian" and "Canadian Private Bank" for the second consecutive year.
- RBC was recognized as "Best Private Banking Services Overall" in Canada for eight straight years and in the Caribbean for six years running by Euromoney.
About RBC Wealth Management
RBC Wealth Management is one of the world's top five largest wealth managers*. RBC Wealth Management directly serves affluent, high net worth and ultra high net worth clients globally with a full suite of banking, investment, trust and other wealth management solutions, from our key operational hubs in Canada, the United States, the British Isles, and Asia. The business also provides asset management products and services directly and through RBC and third party distributors to institutional and individual clients, through its RBC Global Asset Management business (which includes BlueBay Asset Management). RBC Wealth Management has more than C$778 billion of assets under administration, more than C$503 billion of assets under management and approximately 4,050 financial consultants, advisors, private bankers, and trust officers. For more information, please visit www.rbcwealthmanagement.com.
*Scorpio Partnership Global Private Banking KPI Benchmark 2015. In the United States, securities are offered through RBC Wealth Management, a division of RBC Capital Markets, LLC, a wholly owned subsidiary of Royal Bank of Canada. Member NYSE/FINRA/SIPC.
Royal Bank of Canada is Canada's largest bank, and one of the largest banks in the world, based on market capitalization. We are one of North America's leading diversified financial services companies, and provide personal and commercial banking, wealth management, insurance, investor services and capital markets products and services on a global basis. We employ approximately 79,000 full- and part-time employees who serve more than 16 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 38 other countries. For more information, please visit rbc.com.
RBC supports a broad range of community initiatives through donations, sponsorships and employee volunteer activities. In 2014, we contributed more than $111 million to causes worldwide, including donations and community investments of more than $76 million and $35 million in sponsorships.
For further information: