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RBC named “Best Private Bank in Canada” by Global Private Banking Awards for third year in a row; adds top rank in Caribbean

 

Awards recognize RBC’s continued excellence in wealth management

 

TORONTO, October 30, 2014 -  RBC has been recognized as the “Best Private Bank in Canada” for the third consecutive year in the Global Private Banking Awards 2014 presented by PWM (Professional Wealth Management) and The Banker magazines, making it the consistent winner in this category since it was first introduced into the awards programme in 2012. RBC also took the inaugural top ranking as “Best Private Bank in the Caribbean”, a new category in this year’s awards. The awards were presented at an evening gala in Geneva on October 29.

“We are extremely proud to receive these esteemed acknowledgements that reflect the unparalleled strength of our offering and our deep commitment to our clients,” said M. George Lewis, group head, RBC Wealth Management & RBC Insurance. “As one of the top five largest wealth managers in the world, we are able to leverage the best RBC has to offer to bring consistent excellence in advice and solutions to our clients globally. This has enabled us to extend our leadership position in Canada and continue our strong momentum in key international centres, including the Caribbean.”

The PWM/The Banker Global Private Banking Awards recognize and reward excellence in wealth management among banks from the Americas, Europe, Asia, the Middle East and Africa, based on rigorous qualitative and quantitative criteria. Evaluation measures include progress against business model and growth strategies, client relationship management, staff retention, and the evolution of asset allocation and product strategy in line with investor needs.

“We are delighted to once again be named as Canada’s best Private Bank,” said Jennifer Tory, group head, Personal & Commercial Banking, RBC. “Our team takes a highly collaborative approach, working closely with our partners across RBC to provide exceptional service and personalized solutions to our clients, so it is a tremendous honour to see their dedication and hard work recognized in this way.”

These awards are among a number that have recently recognized RBC’s global strength in wealth management and private banking:

  • Earlier this month, RBC Wealth Management was recognized as “Outstanding Wealth Manager – Customer Relationship Service and Engagement” for the second consecutive year and “Outstanding Wealth Planning and Trust Provider” in the 2014 Private Banker International Global Wealth Awards.
  • In September 2014, RBC Wealth Management was named ‘Trust Company of the Year’ in the Society of Trust and Estate Practitioners (STEP) Private Client Awards 2014/15.
  • Euromoney has recognized RBC as having the “Best Private Banking Services Overall” in Canada for seven straight years and in the Caribbean for five years running.
  • In July 2014, RBC Wealth Management was recognized as the world’s fifth largest global wealth manager in Scorpio Partnership’s Global Private Banking Benchmark, an annual survey of the global wealth industry.
  • In March 2014, RBC was recognized as the leading “Canadian Private Bank”, in the inaugural Family Wealth Report Awards.
About RBC Wealth Management
RBC Wealth Management is one of the world’s top five 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$700 billion of assets under administration, more than C$442 billion of assets under management and approximately 4,400 financial consultants, advisors, private bankers, and trust officers. For more information, please visit www.rbcwealthmanagement.com

*Scorpio Partnership Global Private Banking KPI Benchmark 2014. In the United States, securities are offered through RBC Wealth Management, a division of RBC Capital Markets, LLC, a wholly owned subsidiary of Royal Bank of Canada. Member NYSE/FINRA/SIPC.

About RBC
Royal Bank of Canada is Canada’s largest bank, and one of 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, investor services and capital markets products and services on a global basis. We employ approximately 79,000 full- and part-time employees who serve more than 16 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 40 other countries. For more information, please visit rbc.com.

RBC supports a broad range of community initiatives through donations, sponsorships and employee volunteer activities. In 2013, we contributed more than $104 million to causes worldwide, including donations and community investments of more than $69 million and $35 million in sponsorships. Learn more at www.rbc.com/community-sustainability.

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Media Enquiries:
North America:

Claire Holland, RBC Wealth Management, 416-974-2239

Europe/Caribbean:
Paul French, RBC Wealth Management, +44 (0) 20 7002 2013