RBC recognized for Best Private Banking Services in Canada and the Caribbean
TORONTO, Feb. 7, 2013 /CNW/ - RBC (TSX: RY) (NYSE: RY) has received numerous acknowledgements in the 2013 Euromoney Private Banking and Wealth Management Survey, winning awards for the "Best Private Banking Services Overall" in Canada for an unprecedented sixth consecutive year, the Caribbean for the fourth year in a row and in the Cayman Islands for the second year running. In addition, RBC once again ranked in the top 10 for "Best Private Banking Services Overall" in North America and in the top 20 globally.
RBC Wealth Management achieved significant recognition for its trust capabilities, ranking in the top 10 for "Trust Services Globally" and earning the number one ranking for trust services in Canada, the UK, the Cayman Islands and Jersey. These distinctions follow a number of other awards recently received by RBC Wealth Management's international trust business, including Outstanding Wealth Planning & Trust Provider in the Private Banker International Global Wealth Awards, and other industry-leading recognitions from Citywealth and Private Client Practitioner.
"As the sixth largest wealth manager in the world, we leverage our global capabilities to bring excellence in advice and solutions to our clients," said George Lewis, group head, RBC Wealth Management & RBC Insurance. "We are proud to receive these prestigious awards which are an acknowledgement of the commitment and expertise of our people around the world, including in Canada where we have extended our number one market share among high-net-worth clients."
In Canada, RBC ranked first in a number of key categories including Relationship Management, High Net Worth client service in multiple categories ($500,000 to $1 million USD and $1 million to $10 million USD), Range of Investment Products, Trust Services, Privacy and Security, Fixed Income Portfolio Management, Lending/Financing Solutions and Range of Advisory Services.
"We are delighted and honoured to see our private banking business recognized as the best in the industry for an unprecedented sixth consecutive year," said David McKay, group head, RBC Personal & Commercial Banking. "This acknowledgement from our peers is a true testament to our strengths in client service and the collaborative approach we take to deliver the best of RBC to our high-net-worth families."
RBC's accomplishments in the Euromoney survey add to its recent recognition as "Best Private Bank in Canada" in the annual 2012 Global Private Banking Awards and "Outstanding Private Bank North America" in the 2012 Private Banker International Global Wealth Awards.
First published in 2004, the Euromoney Private Banking and Wealth Management Survey is regarded as one of the leading benchmarks for the global wealth management industry. Survey results are based primarily on a peer ranking methodology.
RBC Wealth Management was recognized in July 2012 as the world's sixth largest Global Wealth Manager in Scorpio Partnership's 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$577 billion of assets under administration, more than C$339 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 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, investor services and wholesale banking 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 49 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 2012, we contributed more than $95 million to causes worldwide (more than $64 million in donations, and $31 million in sponsorships).