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News Releases

 

Royal Bank of Canada Updates Brand Name and Logo

The face of Canada's largest financial institution takes on a new look for the global stage

TORONTO, August 20, 2001 - Royal Bank of Canada (RBC) today unveiled an updated brand name and logo that will represent the company around the world. The move symbolizes the evolution that the organization has undergone in recent years, expanding beyond its Canadian base into the United States and other international markets. Effective immediately, the new master corporate brand name for the organization will be RBC Financial Group, and the letters "RBC" will become an umbrella under which each of the company's five business platforms will operate worldwide.

The new brand name and logo are a natural extension of the existing brand, but will be new to those markets where the company has not previously had a physical presence.

"One of our key strategies is expansion into the U.S. and other niche markets around the world," said Gord Nixon, president and chief executive officer, RBC Financial Group. "We want to be able to use a common brand name and logo wherever we operate in order to build awareness of our total business activities and to leverage our brand's positive attributes with customers, employees and investors globally. Our hope is that with the updated logo, 'Leo' will soon become as recognized around the world as it has been in Canada."

In Canada, where the Royal Bank brand name and logo are a deep-rooted part of the Canadian corporate landscape, the brand name change will be effective immediately with all business platforms adopting the letters "RBC" (RBC Capital Markets, RBC Global Services, RBC Royal Bank, RBC Insurance, RBC Investments), but signage across the country will be replaced in a phased roll-out. Full implementation in Canada is expected to be completed by 2004.

In the U.S., where the brand name and logo are not well known, but where a number of acquisitions have recently been made, the implementation will occur more rapidly. In the past two years, Royal Bank of Canada has acquired Centura Banks, Inc. of Rocky Mount, North Carolina, Dain Rauscher Corporation of Minneapolis, Prism Financial Corporation of Chicago, Prism Builder Finance Group of Houston, Liberty Life Insurance Company of Greenville, South Carolina, and has agreed to acquire Tucker Anthony Sutro Corporation of Boston subject to shareholder and regulatory approval. The new brand names of RBC Centura, RBC Prism, RBC Builder Finance and RBC Liberty Insurance, and the new signage will be implemented immediately. The name RBC Dain Rauscher (which will include Tucker Anthony Sutro) will become effective November 1, 2001.

Outside North America, former Royal Trust offices in London, Singapore, Tokyo, Dubai, Sydney, Melbourne and Perth, including the former Perpetual Fund Services of Australia, will now fall under the RBC Global Services platform and signs displaying the new logo will be going up shortly. In addition, RBC Royal Bank of Canada will be used in the Caribbean and some other international markets. Towards the end of the year, corporate and investment banking offices of RBC Dominion Securities outside of Canada will be renamed RBC Capital Markets (subject to legal and regulatory clearance), consistent with the firm's North American brands.

This update is part of an ongoing strategy to create an integrated and cohesive corporation in the face of continued growth around the world. "The more we grow, the more important it is for us to create an integrated presence in the marketplace," said Nixon. "RBC has evolved over time and it is essential that our corporate image evolve along with it in order to reflect market conditions, new product and service offerings, and customer expectations."

Increasingly, RBC Financial Group is becoming an international organization, with more than one third of cash earnings, 12,000 employees, and nearly 2 million clients outside of Canada.

This is only the fourth evolution of the logo since 1901 when the lion and crown were first introduced. In 1962 the logo was simplified and modernized. At this time, the globe was added to demonstrate RBC's increasing global presence. The lion and globe design was modified again in 1974 to simplify the image even further. Because of this evolution over the years, the "Leo" logo has become one of the most recognized corporate symbols in Canada.

RBC Financial Group is the brand name for Royal Bank of Canada (TSE, NYSE: RY) and its subsidiaries. Royal Bank is Canada's largest bank as measured by market capitalization and assets, and is one of North America's leading diversified financial services companies. It provides personal and commercial banking, wealth management services, insurance, corporate and investment banking, and transaction processing services on a global basis. The company employs more than 58,000 people who serve more than 12 million personal, business and public sector customers in North America and in some 30 countries around the world. For more information, please visit www.royalbank.com.

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11/03/2004 08:05:20