TORONTO, October 24, 2012 - RBC Wealth Management, part of Royal Bank of Canada (RY on TSX and NYSE), is pleased to have earned three major awards more than any other wealth manager in the 2012 Private Banker International Global Wealth Awards. RBC Wealth Management was recognized as Outstanding Private Bank North America, Outstanding Wealth Planning & Trust Provider and received a Lifetime Achievement award recognizing the contributions of Deputy Chairman Michael Lagopoulos. The global business was also a finalist for Outstanding Private Bank Latin America. The awards were presented today at a gala dinner in Singapore.
We are extremely proud to see RBC Wealth Management recognized for its strength, global expertise and commitment to delivering integrated advice and solutions to meet the needs of our global high net worth and ultra high net worth clients, said George Lewis, group head, RBC Wealth Management. This combination of awards is reflective of our leading position in North America, our unparalleled global planning and trust capabilities and the quality and commitment of our people.
Nicholas Moody, Editor, Private Banker International, noted RBC Wealth Managements resilience in the face of a challenging economic environment, saying: Amidst the global financial turmoil of the past five years, RBC Wealth Managements strength and stability have proven to be winning qualities among clients and provide it with a solid base to continue expanding its operations internationally.
Commenting on his lifetime achievement award, Lagopoulos said, I feel fortunate to have had a long and varied career with RBC and am honoured to receive this generous acknowledgement by my peers in the industry. Lagopoulos recently announced his retirement as Deputy Chairman, RBC Wealth Management after a 26-year career at RBC.
The Private Banker International Global Wealth Awards are regarded as one of the most prestigious in the industry, voted by the industry for the industry. They aim to recognize best-in-class institutions and provide objective benchmarks for the global private banking and wealth management business. The results are based on selections by Private Banker Internationals advisory board of independent wealth management specialists.
RBC Wealth Management was recognized in July 2012 as the worlds sixth largest Global Wealth Manager by Scorpio Partnerships Global Private Banking Benchmark 2012, 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 business (which includes BlueBay Asset Management). RBC Wealth Management has more than C$562 billion of assets under administration, more than C$324 billion of assets under management and approximately 4,300 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 are 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 investor services on a global basis. We employ approximately 80,000 full- and part-time employees who serve more than 15 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 51 other countries. For more information, please visit www.rbc.com.
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Claire Holland, RBC Wealth Management, 416-974-2239, firstname.lastname@example.org
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