RBC Wealth Management, part of Royal Bank of Canada, has been recognized 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.
This marks the first time RBC has been recognized in the Scorpio review, debuting in seventh place among almost 230 wealth management institutions, based on the $379 billion of client assets Scorpio considered under its review process. The Global Top 10 are recognized as controlling 64 per cent of the current industry market share.
Commenting on the recognition, George Lewis, Group Head of RBC Wealth Management, said: “Our position in the Top 10 wealth managers reflects our rapidly expanding global footprint and our commitment to delivering high quality, client-centric integrated wealth management solutions and advice. We have attracted significant inflows over the last two years in the wake of the financial crisis, as clients have continued to find comfort in the strength and stability of RBC – the world’s 12th largest bank by market capitalization. In 2009, RBC Wealth Management was able to gain market share, add a significant number of new clients and recruit exceptional talent to our diverse businesses, and we look to continue growing our global franchise through 2010 and beyond.”
D.C.