TORONTO, Jan. 29, 2016 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) (RBC) has been recognized as the 'Best Trade Finance Bank in Canada' by Global Finance magazine for the fourth consecutive year. This award demonstrates RBC's cross platform Trade Finance team's longstanding commitment to provide our clients with the technology, breadth of services and skills that support their unique international trade finance requirements.
The award winners were selected by the Global Finance editorial review board based on input from industry analysts, corporate executives and technology experts. A poll of Global Finance magazine's readership was also conducted to increase the accuracy and reliability of the results. Criteria for selecting winners included: transaction volume, scope of global coverage, customer services, competitive pricing and innovative technologies.
"It's always gratifying to be recognized for excellence by the market, and receiving this prestigious award for four consecutive years is not only an honour for RBC, it's also a testament to the ongoing collaborative efforts of many dedicated employees, from our Trade Sales teams to our Relationship Managers to our Trade Processing Centre," said Neil McLaughlin, executive vice-president, Business Financial Services. "With new product offerings and ongoing technological changes, it's an exciting time to be in the Trade Finance business and we, at RBC, look forward to continuing our commitment to supporting our many exporting clients within Canada and globally."
"RBC is the bank of choice for correspondent banks with offices in Canada because of our ability to offer access to RBC's solid infrastructure and branch network as well as our knowledge and understanding of foreign markets, technical expertise and strong client focus. We thank our clients for their support," said James Rausch, head of Transaction Banking – Banks, Brokers and Exchanges, RBC Investor & Treasury Services.
RBC Trade Finance professionals from Investor & Treasury Services (I&TS) and Personal and Commercial Banking (P&CB), who possess a deep understanding of both domestic and global markets, work together to meet the unique needs of each client and facilitate their cross-border activity, help manage risk and improve operational efficiency.
RBC Investor & Treasury Services (RBC I&TS) is a specialist provider of asset services, custody, payments and treasury services for financial and other institutional investors worldwide. We serve clients from 18 locations across North America, Europe, Asia and Australia, delivering services to safeguard client assets, maximize liquidity and manage risk in multiple jurisdictions with a focus on operational risk management. Rated by our clients as the #1 global custodian for five consecutive years*, RBC I&TS has the highest credit ratings among our peers, and its trusted with nearly USD 3 trillion in client assets under administration. (as at October 31, 2015).
*Source: Global Custody Survey, Global Investor ISF, 2011 to 2015
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 81,000 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 37 other countries. For more information, please visit rbc.com.
RBC helps communities prosper, supporting a broad range of community initiatives through donations, sponsorships and employee volunteer activities. In 2015, we contributed more than $100 million to causes around the world.
SOURCE RBC Investor & Treasury Services