RBC Wealth Management, part of Royal Bank of Canada (RY on TSX and NYSE), and the sixth largest wealth manager in the world, has been recognized as providing the best private banking services in the Caribbean, according to Euromoney, a global banking publication.
This is the third year in a row that RBC Wealth Management – which serves high net worth and ultra high net worth clients in The Bahamas, the Cayman Islands and Barbados – has ranked top in the region overall. In addition, RBC Wealth Management was also identified as the best among its peers in the region in categories including relationship management, equity portfolio management and fixed income portfolio management.
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’s operations in the Caribbean provide a complete range of wealth management services accessed by the global network of offices. In recent months the business has made a number of senior hires, including the appointment of Jeremy Proffitt as a Wealth Manager based in Nassau, The Bahamas.
Deanna Bidwell, Head of Caribbean, RBC Wealth Management, commented, “This reflects the hard work that our Caribbean teams put in day-in, day-out to better serve our clients. We really value this recognition of our performance by our peers in the industry and look forward to building on this success, in particular following a number of strategic hires that we have made in the last year.”
In addition to the success in the Caribbean, RBC Wealth Management was recognized as having the “Best Private Banking Services Overall” in Canada for the fifth consecutive year.
“We are extremely pleased to see RBC Wealth Management recognized for its excellence in solutions and service, both in Canada and abroad and particularly for our strength in trust services,” said George Lewis, group head of RBC Wealth Management.
“As the sixth largest wealth manager in the world, RBC Wealth Management continues to build a leadership position worldwide and attract and retain clients and great talent. This is a testament to the depth of our offering, our underlying strength and stability and the commitment of our people.”
RBC Wealth Management was recognized in July 2011 as the world’s sixth largest Global Wealth Manager in Scorpio Partnership’s Global Private Banking Benchmark 2011, an annual survey of the global wealth industry.
