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RBC Wealth Management Climbs to Sixth Largest Global Wealth Manager

^{Published on 2011-07-13 13:15:59 - Market Wire}
 

TORONTO AND LONDON, July 13, 2011 /CNW/ - RBC Wealth Management, part of Royal Bank of Canada (TSX: RY) and (NYSE: RY), today announced that it has again been recognized as one of the world's top 10 largest wealth managers in an annual survey of the global wealth industry by Scorpio Partnership, a specialist consultancy.

RBC Wealth Management placed sixth in the Scorpio Partnership Global Private Banking KPI Benchmark 2011, up from seventh last year. Assets under management considered by Scorpio Partnership in its review process were US$435 billion, up 15 per cent from the previous year.

Commenting on the results, George Lewis, group head of RBC Wealth Management said: "This announcement further solidifies our position as a global leader in wealth and asset management. These figures reflect a strong 2010 for us, where we were able to grow our assets both organically and through acquisition, including the addition of Bluebay Asset Management to our Global Asset Management business. Our aim is to emulate our leading position in Canada and the U.S. in other international markets, particularly in the UK and Asia, where clients are increasingly turning to us for high quality, integrated wealth management advice and solutions."

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$535 billion of assets under administration, more than C$300 billion of assets under management and approximately 4,500 financial consultants, advisors, private bankers and trust officers.