TORONTO, February 9, 2010 RBC Wealth Management, part of Royal Bank of Canada (RY on TSX and NYSE), today announced its success in the 2010 Euromoney Private Banking Awards. The wealth manager has been recognized as having the "Best Private Banking Services Overall" in three separate regions of the world - Canada, the Caribbean and Jersey. In addition, RBC is ranked 3rd and 13th respectively in the categories of "Best Private Banking Services Overall in North America" and "Best Private Banking Services Globally" and ranked in the top 20 in Latin America and Western Europe.
"We are extremely pleased and flattered to be so highly recognized by our peers in Euromoney's Private Banking Awards," said George Lewis, group head of RBC Wealth Management. "Our success in Canada and internationally reflects our rapidly expanding global footprint and our commitment to delivering high quality, client-centric integrated wealth management solutions and advice. The awards confirm our position as a Top 15 private bank and emphasize that we continue to be there for our clients around the world in the wake of the financial crisis."
Michael Lagopoulos, CEO and president of International Wealth Management at RBC, said: "Our wealth management business across the globe has benefitted from the size, strength and stability of Royal Bank of Canada. This has enabled us to continue to grow our international business. In 2009, we were able to gain market share, add significant new clients and recruit exceptional talent to our global wealth management operations."
RBC Wealth Management's 2010 rankings in the Euromoney Private Banking Awards are up significantly from its 2009 rankings in a number of key markets around the world. The firm's global ranking has moved up to 13th place in 2010 (from 24th place in 2009). The Euromoney survey uses a peer ranking methodology.
In Canada, RBC was the clear market leader for the third year in a row, winning the number one ranking in 16 out of 34 categories. RBC took top honours for Best Private Banking Services Overall, Relationship Management, Services for Super Affluent (US $500,000 to US $1 million), Services for High Net Worth I (US $1 million to US $10 million), Specialized Services for Entrepreneurs, Specialized Services for Corporate Executives and Specialized Services for Inherited Wealth and Business and Lending/Financing Solutions.
About RBC Wealth Management
The international arm of RBC Wealth Management services over 35,000 high net worth individuals and institutions through more than 30 offices in the British Isles, Continental Europe, Asia, the Middle East, the Caribbean, Latin America and North America. RBC Wealth Management provides integrated and diversified international wealth management expertise and solutions, asset management and trust services to high net worth individuals and to corporate and institutional clients. Services provided by RBC Wealth Management consultants, advisors, private bankers and trust officers include trust and estate planning, tax advice, discretionary investment management and investment advisory services, structured solutions, banking, lending and global custody. For more information, please visit www.rbcwminternational.com.
RBC Wealth Management, a segment of RBC, directly serves affluent and high net worth clients in Canada, the United States, Latin America, Europe and Asia with a full suite of investment, trust and other wealth management solutions. The business also provides asset management products and services directly, through its RBC Global Asset Management division, and through RBC and third-party distributors to institutional and individual clients. RBC Wealth Management has more than C$500 billion of assets under administration, over C$245 billion of assets under management and more than 4,500 financial consultants, advisors, private bankers and trust officers. RBC Wealth Management was recognized as the Best North American based Wealth Manager by Private Banker International in October 2009.
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, one of North America's leading diversified financial services companies and among the largest banks in the world, as measured by market capitalization. We provide personal and commercial banking, wealth management services, insurance, corporate and investment banking and transaction processing services on a global basis. We employ approximately 80,000 full- and part-time employees who serve more than 18 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 53 other countries. For more information, please visit www.rbc.com.
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Dafina Grapci-Penney, telephone: +44 (0)20 7680 5052
Hubbell Group, New York:
Loretta Healy, telephone: (781) 878 8882
RBC Corporate Communications, Toronto:
Tanis Robinson, telephone: (416) 974-1031