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 rbc.com.
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RBC Wealth Management:
Canada: Claire Holland, 416 974 9334
Americas: Sanam Alaghband, 212 618 5589, firstname.lastname@example.org
Europe/Asia: Paul French, +44 (0)20 7002 2013