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News Releases

 

RBC opens office in Chile

SANTIAGO, April 2, 2008 — RBC (NYSE, TSX: RY), the largest financial institution in Canada, today announced that it has entered the Chilean market with the opening of a financial advisory office in Nueva Las Condes, the new financial centre of Santiago. RBC's objective in Chile will be to provide financial advisory services with a global vision to high net worth individuals. The move complements RBC's strong presence across Latin America amid the firm's ongoing expansion in the region, including last week's office opening in Mexico.

"Chile is an exciting new frontier for RBC," said Antonio Vianna, head of RBC Wealth Management, Latin America region. "We are extremely selective in the markets in which we operate, and within those markets our goal is to build long term partnerships. Chile is at an exciting time in its economic history and we want to be here to participate in its growth."

Richard Diego has been appointed to head the new office. A resident of Chile for nearly two decades, Mr. Diego has extensive experience in Latin American financial markets. He is a former President of the American Chamber of Commerce, Chile, and has been a member of its Board of Directors since 1996. Mr. Diego is also a former member of the Board of Directors of the Fulbright Commission in Chile.

"Richard brings a superb level of invaluable experience and expertise to our clients," said Anthony Cooper, RBC Wealth Management vice-president & regional manager, Latin America.

RBC has been increasing its presence in Latin America and the United States in recent years with the addition of offices in several locations. The firm now has offices in seven Latin American countries and plans to open additional offices throughout the region in 2008. RBC is the fifth largest financial institution in North America and 18th largest in the world by market capitalization.

"The international strength, depth and knowledge of the largest financial institution in Canada, combined with a team of talented local professionals in Chile, will put us in a unique position to provide the absolute best customized financial advice to our clients," said Michael Lagopoulos, international head of RBC Wealth Management.

About RBC Wealth Management
RBC Wealth Management directly serves affluent and high net worth clients in Canada, the United States, Latin America, Europe and Asia, and provides asset management and trust products and services directly and through RBC partners and third-party distributors. RBC Wealth Management has nearly $500 billion of assets under administration, more than $160 billion of assets under management, and more than 3,600 financial consultants, advisors, private bankers and trust officers.

About RBC
RBC (RY on TSX and NYSE) is Canada's largest bank as measured by assets and market capitalization and one of North America's leading diversified financial services companies. In the United States, RBC provides personal and commercial banking, wealth management, insurance, corporate and investment banking and transaction processing services to about two million clients through RBC Centura, RBC Insurance, RBC Liberty Insurance, RBC Wealth Management and RBC Capital Markets. The company employs approximately 70,000 full- and part-time employees who serve more than 15 million personal, business, public sector and institutional clients throughout offices in North America and 36 countries around the world. For more information, please visit www.rbc.com.

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For more information, please contact:
In Chile

Valentina Giacaman, GMZ Communications,
(562) 243-1880, vgiacaman@gmz.cl

Outside of Chile
Kevin Foster, RBC, (212) 428-6902,
kevin.foster@rbccm.com
Jackie Braden, RBC, (416) 974-2124,
jackie.braden@rbc.com


 



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04/02/2008 13:09:19