RBC Looks For Acquisition

Royal Bank of Canada is looking to make an acquisition in the fragmented European wealth management marketplace
By None

Royal Bank of Canada is looking to make an acquisition in the fragmented European wealth management marketplace.

According to David McFadzean, Director of Manager Research, RBC Wealth Management: “Acquisitions are part of our strategy but they are impossible to call within a time frame.”

In an industry where the largest player only holds 3% of the market share, wealth management looks set to experience consolidation during the next two years.

Market sources and recent history make it clear that a major acquisition by RBC seems imminent. With $500 billion in assets under administration, more than $240 billion in assets under management and more than 4,000 financial consultants, advisors, private bankers and trust officers, RBC is well placed to make the most of market conditions.

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