Profile: Royal Bank of Canada (RY.TO)
7 Mar 2014
Royal Bank of Canada, incorporated on June 22, 1869, is a Canada-based banking company. The Company is a diversified financial services company, and provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. It serves over 15 million personal, business, public sector and institutional clients through offices in Canada, the United States and 44 other countries. The Company’s five business segments include Personal & Commercial Banking, Wealth Management, Investor & Treasury Services, Capital Markets and Insurance.
Personal & Commercial Banking
The Company’s Personal & Commercial Banking segment consists of its personal banking operations and certain retail investment businesses in Canada, the Caribbean and the United States, as well as its commercial and corporate banking operations in Canada and the Caribbean. The Company’s Personal & Commercial Banking segment includes RBC Royal Bank, RBC Direct Investing, the United States Banking and Caribbean Banking. This segment also includes auto financing and certain retail investment businesses, including its online discount brokerage channel. Personal & Commercial Banking segment operates through two business lines, which include Canadian Banking, and Caribbean & United States Banking.
The Company provides services to 13 million individual, business and institutional clients across Canada, the Caribbean and the United States. In Canada, it provides a range of financial products and services through its branch, automated teller machine (ATM), online and telephone banking networks, as well as through a number of sales professionals. In the Caribbean, the Company offers a range of financial products and services to individuals, business clients and public institutions in various markets. In the United States it serves the cross-border banking needs of Canadian clients within the United States through online channels, as well as the banking product needs of its the United States wealth management clients.
Personal Financial Services provides a range of financing and investment products and services, including home equity financing, personal lending, deposit accounts, Canadian private banking, indirect lending (including auto financing), mutual funds and self-directed brokerage accounts, and Guaranteed Investment Certificates (GICs). As of October 31, 2013, its retail banking network had 1,255 branches and 4,622 ATMs. Business Financial Services offers a range of lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing (floorplan), and trade products and services to small, medium-sized and commercial businesses and agriculture and agribusiness clients across Canada. Cards and Payment Solutions provide a range of credit cards with loyalty and reward benefits, and payment products and solutions within Canada. As of October 31, 2013, the Company had over 6.5 million credit card accounts. In addition, this business line includes its 50% interest in Moneris Solutions, Inc., its merchant card processing joint venture with the Bank of Montreal.
The Company’s Wealth Management segment offers investment, trust and other wealth management solutions. Wealth Management serves clients in Canada, the United States, and selected regions outside North America with a suite of solutions and businesses that provide asset management products and services through RBC distribution channels and third-party distributors. Its Wealth Management segment includes RBC Dominion Securities; RBC Estate and Trust Services; RBC Wealth Management, International; RBC Phillips, Hager & North Investment Counsel and RBC Global Asset Management. The Company also provides asset management products and services directly to institutional and individual clients, as well as through RBC distribution channels and third-party distributors.
Canadian Wealth Management includes its full-service Canadian wealth advisory business, with over 1,500 investment advisors providing advice-based financial solutions to clients. In addition, it provides discretionary investment management and estate and trust services to its clients. The United States Wealth Management includes its private client group. In addition, its correspondent and advisor services businesses deliver clearing and execution services for small to mid-sized independent broker-dealers and registered investment advisor firms. International Wealth Management includes Wealth Management - British Isles & Caribbean, and Wealth Management-Emerging Markets. The Company provides customized and integrated trust, banking, credit, and investment solutions.
Global Asset Management provides global investment management services and solutions for individual and institutional investors in Canada, the United States, the United Kingdom, Europe and emerging markets. The Company provides a range of investment management services through mutual, pooled and hedge funds, fee-based accounts and separately managed portfolios. The Company distributes its investment solutions through a network of bank branches, its self-directed and full-service wealth advisory businesses, independent third party advisors and private bank, and directly to individual clients. It also provides investment solutions directly to institutional clients, including pension plans, endowments and foundations. In the United States its asset management business offers investment management solutions and services primarily to institutional investors.
Investor & Treasury Services
Investor & Treasury Services is a provider of asset servicing, custody, payments, and treasury services for financial institutions and other institutional investors worldwide. The Company also provide funding and liquidity management for RBC. As of October 31, 2013, the Company had a network of 18 offices across North America, Europe and Asia-Pacific.
Capital Markets consists of certain of the Company’s global wholesale banking businesses, which provides corporate and investment banking, sales and trading, and research and related products and services to public and private companies, institutional investors, governments and central banks. The Company provides capital markets products and services across its two business lines, which include Corporate and Investment Banking, and Global Markets. Its legacy portfolio is grouped under Other. In North America, the Company offers a suite of products and services, which include corporate and investment banking, equity and debt origination and distribution, and structuring and trading. Corporate and Investment Banking consists of its corporate lending, loan syndications, debt and equity origination, mergers and acquisitions (M&A) advisory services, private equity, research, client securitization and the global credit businesses. Global Markets consist of the Company’s fixed income, foreign exchange, equity sales and trading, repos and secured financing and commodities businesses. Other consists of its legacy portfolio which includes its bank-owned life insurance (BOLI) stable value products, the United States commercial mortgage-backed securities and the United States auction rate securities (ARS).
The Company, through its operating entities, provides a range of travel, life, health, home, auto and wealth solutions, as well as creditor and business insurance services, to individual and group clients in Canada. It also offers reinsurance for clients around the world. Insurance consist of its insurance operations in Canada and globally and operates under two business lines: Canadian Insurance and International Insurance. In Canada, the Company offers its products and services through its distribution channels, which consist of the field sales force, which includes retail insurance branches, its field sales representatives, call centers, as well as online, through independent insurance advisors and affinity relationships.
The Company offers life, health, property and casualty insurance products, as well as wealth accumulation solutions, to individual and group clients across Canada. Its life and health portfolio includes universal life, term life, critical illness, disability, long-term care insurance and group benefits. The Company offers a range of property and casualty products, including home, auto and travel insurance. Its travel products include out of province/country medical coverage, trip cancellation insurance and interruption insurance. International Insurance is primarily comprised of our reinsurance businesses which insure risks of other insurance and reinsurance companies. It offer life and health, accident and annuity reinsurance products.
Royal Bank of Canada
Royal Bank Plaza, 200 Bay Street
TORONTO ON M5J 2J5
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