RBC, the largest financial institution in Canada, announced the opening of an international investment advisory and full-service securities brokerage office in Barbados as part of the banks wealth management division. The new business allows the Barbados office to offer RBCs full suite of wealth management solutions to its clients, and adds to the growth of the firms investment platform across the Caribbean.
This marks a terrific accomplishment for RBC as we continue to expand in the Americas region, and reinforces our commitment to our Caribbean platform, says Michael Moodie, head of Americas Region, RBC Wealth Management, International. The enhancement of our Barbados operations aligns with RBC Wealth Managements core strategy of expanding internationally in select markets and continuing to build out and add scale to our hub offices internationally. We continually look for opportunities to grow in specific geographies where our history and brand are strong and where we can meet the needs of our clients.
RBC, which has had a presence in Barbados for nearly a century, will now have one of the largest and most complete investment platforms in the country. The firm provides a number of wealth management services to clients in Barbados, including trust & fiduciary, discretionary investment management, corporate services, and credit solutions.
As a jurisdiction, Barbados continues to be attractive to both high net worth and institutional clients and is committed to maintaining its high standing as a well-regulated, responsible international financial centre through its transparent and sophisticated legal and regulatory standards and regulations, says Gordon Anderson, managing director of RBC Wealth Management, Caribbean. Our history and knowledge of the Barbados market put us in a unique position to provide integrated wealth management and customized financial advice to our clients.
Barbados proximity to the southeast Caribbean, Central America, Venezuela and Colombia markets also adds to its appeal as a hub office for RBC Wealth Management, and will benefit the firms ability to service clients in those markets.
The announcement comes on the heels of RBC Wealth Managements recent recognition last month by Euromoney magazine for having the Best Private Banking Services Overall in the Caribbean. RBC was recognized in all three Caribbean countries in which it operates: Best Local Bank in the Bahamas, Best Foreign Bank in the Cayman Islands and Best Private Banking Services Overall in Barbados. As well, RBC is ranked 3rd and 13th respectively in the category of Best Private Banking Services Overall in North America and globally, and also ranked in the top 20 in Latin America and Western Europe.
D.C.