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LATEST ARTICLES
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D&I is recognised and promoted as one of five core values at Royal Bank of Canada (RBC), the others being Client First, Collaboration, Accountability and Integrity.
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Awards for ExcellenceSometimes a franchise is suited to a moment. And in an awards period that began with the catastrophe unfolding in Ukraine, ended with a meltdown in US regional banking, and was accompanied throughout by eye-watering rate hikes, clients had no shortage of demands of their investment banks.
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With Asia on the brink of one of the biggest-ever inter-generational wealth transfers, RBC Wealth Management finds itself in the right place at the right time.
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Across Canada and the US, RBC Wealth Management has built a compelling and powerful offering for clients across all wealth segments, enabling the bank to command a market-leading position, particularly among high net-worth clientele.
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Royal Bank of Canada reckons it is in a good position to capitalize on opportunities in a rising rate environment – and has room to grow in investment banking.
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Awards for ExcellenceIt was another strong year for Royal Bank of Canada (RBC), which saw increased provisioning at the start of the pandemic but had good performance throughout and is now well placed to benefit from the post-crisis recovery. Once again it is Euromoney’s choice as Canada’s best bank.
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A history of patient investment meant Royal Bank of Canada was well-placed to navigate a turbulent year.
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The US’s PNC Financial Services and Royal Bank of Canada win the best bank accolades in their respective countries in this year’s Euromoney Awards for Excellence.
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Until the coronavirus crisis, it was a familiar year for RBC Capital Markets in the awards period. As usual, the bank faced strong individual competitors in almost every business, product or sector in which it operates, but no firm rivals it across the board.
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Hedge funds and real money clients looking to shake up their FX trading strategy now have the option of basing their trades on proprietary market analysis from RBC.
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The bank is penetrating deeper into its home markets to complement its long-standing international growth initiatives.
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Asian private wealth is distinct from elsewhere in the world and must be served with a different model. Entrepreneurial wealth, changing digital delivery channels and gradual engagement with socially responsible investment all present challenges and opportunities for private banks in the region.
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Canada’s investment banking franchises have had a challenging environment to deal with in 2018 and 2019. But RBC Capital Markets has weathered the situation well and is Canada’s best investment bank.
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UK corporate broking is the business that won’t die. There is no requirement for it outside the smallest listed firms, and corporates the world over manage without it. Yet UK companies almost always want the reassurance it provides. Is it finally under threat?
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The Royal Bank of Canada is appealing a judge’s scathing verdict that it sacked a former trader in London for blowing the whistle on lax compliance, citing a ‘robust compliance culture’.
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A mature economy and limited room for domestic growth tends to push Canada’s biggest firms into foreign forays. And fortunately for RBC Capital Markets, they often choose to do that supported by Canada’s best investment bank.
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A senior currency trader fired from Royal Bank of Canada is taking the bank to task at an unfair dismissal hearing that includes accusations of sloppy trading, alleged bribery and an 'incoherent and inconsistent' global FX policy that he claims no one had bothered to read.
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Canada's leading bank is increasingly leaning over its neighbour's fence
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A seventh year of record earnings in the fiscal period 2016 – and a first half of 2017 that promises another blockbuster year – saw TD Bank prove yet again that it is the franchise to beat in Canada. The firm’s unrivalled breadth and depth secure it Euromoney’s best bank in Canada award for another year.
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Worsening conditions in the energy and commodity sectors were not enough to unsettle RBC Capital Markets in its continued dominance of the Canadian investment banking landscape, for which it again wins Euromoney’s best investment bank in Canada award. Cross-border work continues to be a big theme, with highlights including advising Enbridge on its $43.4 billion merger with Spectra Energy of the US, the largest ever acquisition by a Canadian firm, completed in March 2017. Smaller, but arguably more eye-catching for the way in which it showcased the bank’s ability to act across asset classes when needed, was its financing work for the $13 billion acquisition of Columbia Pipeline Group by TransCanada Pipelines.
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JPMorgan Chase wins best bank in the US; RBC Capital Markets and Bank of America Merrill Lynch pick up multiple awards; execution, CSR and digital are the new battlegrounds for financial institutions.
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Results index RBC Capital Markets wins Euromoney’s award for best bank for markets in North America. It is one of the few financial institutions that can claim to be a top player in both the US and Canada. In the US where it competes with domestic banks, the Canadian firm has succeeded in growing revenues in its fixed income, currencies and commodities business by 3.2% since 2012, gaining market share as US banks reduced their balance sheets.
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The banking business of RBC Caribbean was close to dissolution less than three years ago but is now on a path towards profitability and reconnection with the communities that it serves. Kirk Dudtschak, the bank’s executive vice-president, was in the eye of the storm.
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RBC Capital Markets’ retreat from eurozone primary dealerships looks portentous rather than idiosyncratic.
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Broader investor base spurs historic issue; other foreign banks to follow suit.
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Deutsche Bank, JPMorgan and Barclays continue to slug it out at the top of the market-share tables for crisis-hit credit trading. But when it comes to quality over quantity, RBC Capital Markets is the firm to watch.
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RBC Dexia has been rated the custodian bank that provides the most transparent foreign exchange rates in the 2012 global custody survey, conducted by EuromoneyFXNews’ sister-publication, Global Investor.
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RBC Capital Markets has announced it is connecting to Medusa, Digital Vega’s multi-dealer FX option platform.
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RBC believes the overhaul of its electronic trading platform is going to pay dividends in this year’s Euromoney FX survey.
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Royal Bank of Canada has become the first Canadian bank to act as a market-maker through the RTFX FX trading platform, a marketplace of more than 650 financial institutions, as it seeks to expand its global coverage of foreign exchange, particularly in Asia.
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Canadian bank sees great potential to distribute credit investments; BlueBay’s founders hope clients will take comfort from RBC’s capital strength
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To commemorate its London centenary, RBC sent umbrellas to clients. Euromoney wondered whether any banks had plans to celebrate anniversaries for their businesses in Canada, and if so what would they send round.
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Royal Bank of Canada had a great crisis, and it’s thriving through the recovery as well. It has established its position as one of the biggest, as well as best-run, banks in the world. But its new prominence brings added pressure and responsibility to RBC’s long-serving chief executive, Gordon Nixon. He spoke to Clive Horwood.
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Canadian bank to hire slew of new managing directors; focus will be on ECM and M&A in Europe.
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Cautious global expansion pays off.
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The credit crisis has left the country’s banks relatively unscathed, and regulators around the world want to find out why. But is a conservative culture stopping local players achieving their global potential? Helen Avery investigates.
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Despite being neighbours and indeed competitors of US counterparts, Canada’s banks have fared much better than them in avoiding sub-prime related losses. And of all the Canadian financial groups one bank stands out as having enjoyed the best 2007-08 period – TD Bank. TD is the only large bank in Canada to have had no credit-related write-downs.
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RBC Capital Markets is building a European leveraged finance team.
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Royal Bank of Canada has launched its €15 billion covered bond programme with a jumbo issue in the European covered bond market. The deal is Canada’s first ever covered bond.
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In October, Royal Bank of Canada (RBC) added to its set-up in the Caribbean. The number one Canadian bank announced a $2.2 billion acquisition of RBTT (Royal Bank of Trinidad and Tobago) Financial Group. RBTT had been in discussions with potential buyers since April and suitors included Canadian rivals Scotiabank and CIBC, through its FirstCaribbean unit. RBC is paying for the group with 60% cash in hand and a further 40% in RBC shares.
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Rumours that RBC Capital Markets had let go up to 40 sales and trading officials in the US were firmly denied by officials at the Canadian bank, who refused to comment on possible redundancies.
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RBC Capital Markets announced the completion of two of the first ever rouble-denominated bonds since the rouble became fully convertible.
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Canada’s secretary of state (international financial institutions)
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After decades of steady growth for six big banks, the Canadian banking sector is fast consolidating. The old certainties have been undermined by the announcements of mergers between Royal Bank of Canada and Bank of Montreal in January and Canadian Imperial Bank of Commerce and Toronto Dominion Bank in April. The rush to merge follows a global trend fuelled by the need to cope with increased competition, and was stimulated by the BankAmerica/NationsBank merger in the US. But unlike their US counterparts, RBC/BMO and CIBC/TD have to run the gauntlet of rigorous banking regulation, entrenched political conventions and hostile popular opinion.
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Canada's six largest banks dominate their home market, so it's hardly surprising they are looking abroad for growth opportunities. But their expansion strategies could hardly be more different: while Nova Scotia is buying up Latin American banks, CIBC is becoming a player on Wall Street and Toronto Dominion is cultivating a niche as a discount broker. But what would really allow Canadian banks to become serious global players would be if the government were to allow them to merge. Richard Blackwell reports.
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Out went the traders; out, a few days later, went the man they had been chafing against, John Abell; out went two top syndicate men....