RBC's Global Trust capability also highlighted in industry survey
TORONTO, Feb. 9, 2012 /CNW/ - RBC (RY on TSX and NYSE), today was recognized by the 2012 Euromoney Private Banking and Wealth Management Survey as providing the "Best Private Banking Services Overall" in Canada for the fifth consecutive year. RBC Wealth Management was also recognized as the provider of the best private banking services overall in the Caribbean for the third year running, as well as in the Cayman Islands. RBC once again ranked in the top ten for "Best Private Banking Services Overall" in North America and in the top 20 globally.
The survey also highlights the success of RBC Wealth Management's Global Trust business. RBC ranked number one for Trust Services in Cayman and Jersey, and ranked in the top ten for Trust Services globally. This success follows a series of industry awards and commendations that RBC Wealth Management's international trust business has won recently, including awards from STEP, Citywealth, and Private Client Practitioner.
"We are extremely pleased to see RBC Wealth Management recognized for its excellence in solutions and service, both in Canada and abroad and particularly for our strength in trust services," said George Lewis, group head of RBC Wealth Management. "As the sixth largest wealth manager in the world, RBC Wealth Management continues to build a leadership position worldwide and attract and retain clients and great talent. This is a testament to the depth of our offering, our underlying strength and stability and the commitment of our people."
In Canada, RBC ranked first in 16 categories, including relationship management, High Net Worth clients in multiple categories ($500,000 to $1 million,
$1 million to $10 million and 10 million to $ 30 million USD), tax guidance and services, corporate advisory for private banking clients, equity portfolio management, fixed income portfolio management and specialized services for corporate executives.
"It's an honour to receive this acknowledgement by our peers for the strength in our domestic private banking business for the fifth consecutive year," said David McKay, group head, RBC Canadian Banking. "Securing the lead position is an important achievement and demonstrates the commitment of our entire team to providing clients with the very best solutions and advice RBC has to offer."
First published in 2004, the Euromoney Private Banking and Wealth Management Survey is regarded as one of the leading benchmarks for the global wealth management industry. Survey results are based primarily on a peer ranking methodology.
RBC Wealth Management was recognized in July 2011 as the world's sixth largest Global Wealth Manager in Scorpio Partnership's Global Private Banking Benchmark 2011, an annual survey of the global wealth industry.
About RBC Wealth Management
RBC Wealth Management is one of the world's top 10 largest wealth managers. RBC Wealth Management directly serves affluent, high-net-worth and ultra high net worth clients in Canada, the United States, Latin America, Europe, the Middle East, Africa and Asia with a full suite of banking, investment, trust and other wealth management solutions. 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$525 billion of assets under administration, more than C$305 billion of assets under management and approximately 4,300 financial consultants, advisors, private bankers and trust officers.
Royal Bank of Canada (RY on TSX and NYSE) and its subsidiaries operate under the master brand name RBC. We are one of Canada's largest banks as measured by assets and market capitalization, and are among 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 services, insurance, corporate and investment banking and transaction processing services on a global basis. We employ approximately 74,000 full- and part-time employees who serve close to 15 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 56 other countries. For more information, please visit rbc.com.
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