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RBC Recognized As "Best Private Bank In Canada" In Global Private Banking Awards

Stocks in this article: RY

RBC the first-ever Canadian recipient of prestigious award

TORONTO, Nov. 8, 2012 /CNW/ - RBC (RY on TSX and NYSE), has been recognized as the "Best Private Bank in Canada" in the fourth annual 2012 Global Private Banking Awards. RBC has the distinction of being the first winner in this new category of the awards that celebrate excellence in wealth management, presented today at a ceremony in Singapore.

"RBC Wealth Management is honoured to be the first recipient of this prestigious award," said George Lewis, group head RBC Wealth Management. "This recognition reflects our commitment to offer excellence in advice, best-in-class wealth solutions, and an integrated approach that brings the best of RBC worldwide to our clients."

"We are thrilled to see RBC receive this distinction, which recognizes our collaborative culture and the breadth and depth of integrated wealth solutions we provide to our Canadian Private Banking clients," said Dave McKay, group head, Personal and Commercial Banking, RBC.

This award is one of several acknowledging the strength of RBC. Euromoney has recognized RBC as having the "Best Private Banking Services Overall" in Canada for five straight years. In October 2012, RBC Wealth Management was recognized as "Best Private Bank North America", "Outstanding Wealth Planning & Trust Provider" and a "Lifetime Achievement" award for Deputy Chairman Michael Lagopoulos in the 2012 Private Banker International Awards. RBC Wealth Management was also 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.

The Global Private Banking Awards, presented by FT Business and its specialist business publications The Banker and Professional Wealth Management, recognize and reward excellence in wealth management among private banks from The Americas, Europe and Asia based on rigorous qualitative and quantitative criteria.

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$562 billion of assets under administration, more than C$324 billion of assets under management and approximately 4,300 financial consultants, advisors, private bankers and trust officers.

ABOUT RBC 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 are 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, corporate and investment banking and investor services 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 51 other countries. For more information, please visit rbc.com.

SOURCE RBC

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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