The Tribune

ROYAL Bank of Canada's (RBC) regional wealth management arm has been recognised for providing the best private banking services in the Caribbean by Euromoney, a global banking publication. RBC, which markets itself as the sixth largest wealth manager in the world, said it was 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 added that RBC Wealth Management was also identified as the best among its peers in the region in categories such as 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 has in recent months made a number of senior hires, including the appointment of Jeremy Proffitt as a wealth manager based in Nassau. Deanna Bidwell, head of RBC Wealth Management's Caribbean operations, said: "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." RBC Wealth Management was recognised 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.