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STRATEGIC GOAL
To build on our strengths in banking, wealth management and capital markets
in the United States
WHERE WE ARE
Operations in the U.S.
We are focused on serving an increasing number of individual and commercial clients in banking and wealth management and on becoming a significant wholesale bank to the U.S. mid market.
We provide personal and business banking solutions to individuals, businesses, business owners and professionals through our regional banking network in the Southeast. Our 1,680 financial consultants offer full-service wealth management expertise and customized financial services to 310,000 households in 40 states. We provide clearing and execution services to independent broker-dealers and institutions and also offer insurance protection and asset accumulation solutions nationwide.
We offer emerging and middle-market companies a full suite of capital markets services across seven industry sectors in major cities throughout the U.S. Corporate, public and institutional clients of all sizes have access to our global debt origination and distribution capabilities as well as public and infrastructure finance.
Strengths and capabilities
All our U.S. clients benefit from the global resources of RBC, while drawing upon the knowledge and expertise of our employees who are dedicated to consistently deliver quality financial solutions and services. Importantly, strong and complementary linkages between our U.S. capital markets businesses and our retail operations allow us to leverage our extensive retail network to effectively distribute fixed income and structured products.
Our individual and business clients benefit from our targeted approach. Our U.S. bank focuses on serving businesses, business owners and professionals. We take the time to know our clients and differentiate ourselves, in a highly competitive marketplace, by tailoring financial products and services to meet their specific needs. Individual investors and businesses are well-served by our ability to tailor wealth management solutions developed through long-lasting relationships with experienced financial consultants.
Our U.S. middle-market corporate and institutional clients have access to a full suite of products and services focused on supporting their growth and financing strategies. We have established strength in municipal finance, and our global capabilities in securitization, infrastructure finance and public finance are helping to build our presence in this key market.
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| KEY HIGHLIGHTS |
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Ranked eighth largest full-service securities firm in the U.S. as measured by number of financial consultants. |
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Ranked among top investment banks targeting the middle-market – 16th in initial public offerings and 14th in the equity league tables (Dealogic). |
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Ranked number one for Senior Manager: Small Issues in the first three quarters of calendar 2006 for municipal finance (Thomson Financial). |
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Opened 10 de novo banking branches to expand our presence and client reach in fast-growing southeastern markets. |
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| Achievements in 2006 |
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| Banking |
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Announced agreements to acquire Atlanta-based Flag Financial Corporation (Flag) along with its 17 branches and, in November 2006, 39 branches in Alabama owned by AmSouth Bank, providing us with a total of 338 branches in the Southeast once the transactions close. The transactions are subject to regulatory approvals and other customary conditions and are expected to close in the first quarter and second quarter of 2007, respectively. |
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Increased new personal accounts by 37 per cent and new business accounts by 20 per cent following the launch, in the first quarter of 2006, of a new streamlined suite of personal and business chequing accounts with unique features to better meet our clients’ needs. |
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| Wealth management |
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Achieved a record US$132 billion in assets under administration, up 14 per cent over 2005, by recruiting experienced financial consultants and executing our strategy to become the primary advisor to more of our retail investor clients by better understanding and meeting their needs. |
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Achieved strong growth in our clearing and execution services business with 160 correspondent firms generating total assets under administration of US$34 billion, up 27 per cent from 2005. |
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Acquired American Guaranty & Trust Company, a Delaware-based trust business, enabling us to provide U.S. trust solutions to high net worth clients. |
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| Insurance |
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Achieved record sales in U.S. term life insurance business: 63 per cent year-over-year growth. |
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Expanded proprietary sales distribution in Florida to increase sales capability within our retail banking footprint. |
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| Capital markets |
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Selected to advise on one of the first Florida public/private partnerships. |
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Tripled distribution of structured notes through our wealth management network. |
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Announced agreement to acquire the broker-dealer business and certain other assets of Carlin Financial Group, based in New York, providing a best-in-class North American electronic execution platform. In addition, in November 2006, we announced an agreement to acquire Daniels & Associates L.P., the most active M&A advisor in the U.S. to cable, telecom and broadcast industries. Both transactions are subject to regulatory approvals and other customary conditions and are expected to close in the first quarter of 2007. |
WHERE WE ARE GOING
2007 and beyond
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Continue to focus on becoming the bank for businesses, business owners and professionals in the Southeast by expanding our products and services to meet the needs of this growing business segment. |
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Become the wealth management advisor of first choice to more clients by demonstrating overall strength in credit and lending, trust services and delivery of structured products and alternative investments. |
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Continue to expand our U.S. insurance capabilities through enhanced products and services. |
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Increase our investment banking client base by leveraging our broad product platform, advisory capabilities and global debt distribution. |
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Continue to expand relationships in the municipal finance market and establish ourselves as a key player in infrastructure finance. |
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