RBC Gains Further Global Recognition
in Euromoney Private Banking and Wealth Management Survey
# 1 - Best private banking services overall
# 1 - Best private banking services overall - Caribbean
# 1 - Best private banking services overall - Barbados
# 13 - Best private banking services overall -
TORONTO, FEBRUARY 4, 2011 RBC Wealth Management,
the global wealth and asset management division of Royal Bank
of Canada (RY on TSX and NYSE), and RBC Royal Bank, today
announced results from the 2011 Euromoney Private Banking
and Wealth Management Survey. RBC has been recognized as providing
the "Best Private Banking Services Overall" in three
separate regions - Canada, the Caribbean and Barbados. In
addition, RBC ranked in the top five for "Best Private
Banking Services Overall" in North America and 13th globally.
In addition, RBC achieved the number one ranking for Trust
Services, Tax Guidance and Offshore Services in Jersey.
Commenting on the results, George Lewis, group head of RBC
Wealth Management said: "It is extremely gratifying to
be recognized by our peers across such a breadth of categories
and countries. It was a very successful year for our business
as we made further significant moves to expand our platform,
building on our position as the seventh largest wealth manager
in the world. The excellence of RBC's domestic Private Banking
offering has been critical, not only as a key partner in Canada,
but also to our position as a preferred provider of holistic
wealth management solutions by high net worth (HNW) clients
around the globe."
In Canada, RBC was recognized as having the "Best Private
Banking Services Overall" for the fourth consecutive
year, winning the number one ranking in 21 out of 34 categories
including Best Local Bank, Services for the High Net Worth
(US$ 1M to US$ 10M), Relationship Management, Privacy and
Security, Lending/Financing Solutions, Range of Advisory Services
and Range of Investment Products.
"We are pleased to once again receive this acknowledgement
of the strength of our Private Banking offering in Canada,"
said David McKay, Group Head, RBC Canadian Banking. "Maintaining
our top rank position for best overall private bank in Canada
is a testament to our commitment to clients, our ability to
hire the best talent and to working collaboratively with our
internal partners to ensure our clients get the best solutions
RBC has to offer."
David Agnew, head of RBC Wealth Management - Canada commented
that "As key partners of RBC Private Banking, we have
seen firsthand the benefits of taking a team approach to providing
HNW clients with integrated wealth management advice and service,
which has greatly contributed to raising our share of HNW
clients in Canada."
First published in 2004, the Euromoney Private Banking
and Wealth Management Survey is regarded as one of the leading
benchmarks of its kind for the industry globally. It is based
on a peer ranking methodology.
RBC Wealth Management was recognized in July 2010 as one
of the world's top 10 largest wealth managers in Scorpio Partnership's
Global Private Banking KPI Benchmark 2010, 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
division. RBC Wealth Management has more than $520 billion
of assets under administration, more than $260 billion of
assets under management and approximately 4,500 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 Canada's largest
bank as measured by assets and market capitalization, and
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 78,000 full- and part-time employees
who serve close to 18 million personal, business, public sector
and institutional clients through offices in Canada, the U.S.
and 51 other countries. For more information, please visit
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RBC Wealth Management:
Canada: Claire Holland, 416 974 9334
Americas: Sanam Alaghband, 212 618 5589, email@example.com
Europe/Asia: Paul French, +44 (0)20 7002 2013