RBC Wealth Management
RBC Wealth ManagementInvestor and Analyst DayOctober 21, 2011Caution regarding forward-looking statementsFrom time to time, we make written or oral forward-looking statements within the meaning of certain securities laws, including the “safe harbour”provisions of the United States Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation. We may make forwardlooking statements in this Wealth Management, Investor and Analyst Day Presentation, in other filings with Canadian regulators or the SEC, in reports toshareholders and in other communications. Forward-looking statements in this presentation include, but are not limited to, statements relating to RBC’sWealth Management five year growth plans and objectives and growth opportunities. The forward-looking information contained in this presentation ispresented for the purpose of assisting the holders of our securities and financial analysts in understanding RBC Wealth Management, its businesses,financial position and results of operations as at and for the periods ended on the dates presented, our growth plan and objectives, and may not beappropriate for other purposes. Forward-looking statements are typically identified by words such as “believe”, “expect”, “foresee”, “forecast”, “anticipate”,“intend”, “estimate”, “goal”, “plan”, “objective” and “project” and similar expressions of future or conditional verbs such as “will”, “may”, “should”, “could” or“would”.By their very nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties, which give rise to thepossibility that our predictions, forecasts, projections, expectations or conclusions will not prove to be accurate, that our assumptions may not be correctand that our vision and strategic goals will not be achieved. We caution readers not to place undue reliance on these statements as a number of riskfactors could cause our actual results to differ materially from the expectations expressed in such forward-looking statements. These factors – many ofwhich are beyond our control and the effects of which can be difficult to predict – include: credit, market, operational and liquidity and funding risks, andother risks discussed in the Risk management and Overview of other risks sections in our 2010 Annual Report to Shareholders and the Risk managementsection of our Q3 2011 Report to Shareholders; general business, economic and financial market conditions in Canada, the United States and certainother countries in which we conduct business, including the effects of the European sovereign debt crisis and the lowering of the U.S. long-term sovereigncredit rating by Standard & Poor’s; changes in accounting standards, policies and estimates, including changes in our estimates of provisions, allowancesand valuations; the effects of changes in government fiscal, monetary and other policies; the effects of competition in the markets in which we operate; theimpact of changes in laws and regulations, including tax laws, changes to and new interpretations of risk-based capital guidelines, and reportinginstructions and liquidity regulatory guidance, and the Dodd-Frank Wall Street Reform and Consumer Protection Act; judicial or regulatory judgments andlegal proceedings; the accuracy and completeness of information concerning our clients and counterparties; our ability to successfully execute ourstrategies and to complete and integrate strategic acquisitions and joint ventures successfully; and development and integration of our distributionnetworks.We caution that the foregoing list of risk factors is not exhaustive and other factors could also adversely affect our results. When relying on our forwardlooking statements to make decisions with respect to us, investors and others should carefully consider the foregoing factors and other uncertainties andpotential events. Except as required by law, we do not undertake to update any forward-looking statement, whether written or oral, that may be made fromtime to time by us or on our behalf.Additional information about these and other factors can be found in the Risk management and Overview of other risks sections in our 2010 Annual Reportto Shareholders and the Risk management section of our Q3 2011 Report to Shareholders.Information contained in or otherwise accessible through the websites mentioned does not form part of this presentation. All references in this presentationto websites are inactive textual references and are for your information only.1
Today’s agendaGord NixonWelcome and Opening RemarksRBC Wealth Management OverviewGeorge LewisOur Financial Performance and DriversOur Growth Strategy9:00 – 10:15John Montalbano Global Asset ManagementJohn TaftWealth Management - U.S.Global Trust and Wealth Management - U.K.George LewisWealth Management - CanadaWealth Management - Emerging MarketsWrap-Up10:15 – 11:15Questions and Answers2Welcome and Opening RemarksGord NixonPresident and Chief Executive Officer
The Canadian leader with a strategic global focusRevenue by Business Segment1Revenue by Geography1(Q3 2009 to Q3 2011)(Q3 2009 to Q3 2011)Capital Markets 23%Wealth Management15%International17%Insurance 20%Canada63%U.S.20%Canadian Banking37%International Banking5% The right mix of businesses and geographies Strong capital base and highly liquid balance sheet Leveraging our domestic leadership to build globally competitive businessesWell-positioned financially and competitively1.Amounts represent continuing operations and do not include Corporate Support. For further information, see Q3 2011 Report to Shareholders.4RBC Wealth Management – attractive dynamicsIndustryAdvantage Exceptional growth in the retirement segment, and High Net Worthand Ultra High Net Worth segments, notably in emerging markets Low capital requirements for organic growth Relatively stable regulatory environment Strong reputation of the Canadian financial system Leveraging RBC’s strength, stability and brandRBC’sAdvantage RBC’s capabilities are well-suited for High Net Worth client needs RBC Capital Markets and RBC Wealth Management - globalbusinesses complementary to each other and to our leadingCanadian franchise Established foundation for growth and shareholder valueFavourable trends for growth5
RBC Wealth Management OverviewGeorge LewisGroup Head, RBC Wealth ManagementToday’s focus Building a global high-performing asset manager Expanding High Net Worth and Ultra High Net Worth market share Leveraging RBC and RBC Wealth Management strengths andcapabilitiesBuilding a leading global wealth and asset manager7
Holistic value proposition for clients9 6th largest wealth manager in the world by clientassets19 Largest full-service wealth manager in Canadawith high levels of client and advisor satisfaction29 6th largest full-service wealth manager in the U.S.by financial advisors with industry leading clientratings29 Award-winning asset management capability29 Leading global provider of international trustsolutions2Backed by the strength and stability of RBC1. Scorpio 2011. Client assets defined as AUA AUM of wealth businesses, which excludes asset management businesses and estimated custody, trust andinstitutional assets. 2. See slide 56 for a list of our awards.8Clear strategic focus and global scope2007 – 20101986 – 2006 Built the #1 position in wealth andasset management in Canada Secured leadership in Canada (PH&Nacquisition) and extended our position Strengthened individual businessesthroughout the market disruption andrecovery Laid the foundation, strategy andstructure for global growthEstablished our U.S. andInternational wealth businesses2011 – 2015BECOME A GLOBAL LEADER IN WEALTHAND ASSET MANAGEMENTBuilding on our leadership to drive future growth9
A unique approach to wealth managementComplementary wealthofferings within RBCRBC Wealth Management Directly serving affluent, HNWand UHNW clients globally witha full range of investment, trust,credit, cash, planning andinsurance solutions Delivering asset managementproducts and trust solutions forindividual and institutionalinvestors globally Canadian Banking Distributes RBC GAM mutual funds Private Banking RBC Direct Investing utilizescommon infrastructure andRBC GAM products Insurance products and segregatedfundsCapitalizing on the “Home of Best Fit”10The leader among Canadian bank peersClient Assets1RevenueEarnings2(C billions)(C millions)(C 002,0002002000002010Canadian Peer Average32010Next Closest Peer2010RBC Wealth Management Direct Investing andCdn Private BankingInsuranceLargest Canadian wealth and asset manager1. Client Assets AUM AUA, as reported. 2. Average and next closest includes insurance earnings for BNS and BMO, consistent with their disclosure.RBC Insurance not adjusted for loss on Liberty Life sale. 3. Average of 5 Canadian banks (excluding RBC), as reported.11
Sixth largest wealth manager globallyRank1InstitutionsClient Assets2(in US 49 6th largest wealth manager by clientassets9 5th largest by revenue and 4th byearnings19 Strong historical presence in key globalfinancial centers9 Backed by Canada’s largest bank byassets and market capitalizationStrong global position1. Scorpio 2011 (Analysis of year-end 2010 results of 198 business entities active in the management of HNW private client wealth). 2. Scorpio defines clientassets as AUA AUM of wealth businesses, which excludes asset management businesses and estimated custody, trust and institutional assets.12Key capabilities and deep expertiseWealth ManagementGeorge LewisGroup HeadGlobal Asset ManagementGlobal Trust and WM U.K. John MontalbanoPaul PattersonWM CanadaWM United StatesDavid AgnewUltra High Net WorthWM Emerging MarketsJohn TaftBarend JanssensGlobal SupportCanadaInternationalGlobal Wealth ServicesOperations and TechnologyGay MitchellMike LagopoulosStuart RutledgeIngrid VersnelA wealth of experience behind our global growth strategy13
Our Financial Performance and DriversSolid financial performanceRevenueClient Assets1(C millions)(C Revenue(2007)(YTD Q3/11)Spread11%Fee Based52%YTD YTD Q3/10 Q3/11Spread8%Fee Based59%Transaction and Other237%Transaction and Other233%Driving towards stronger recurring revenue1. Client Assets AUM AUA. See 2010 Annual Report for definitions of AUA and AUM. 2. Other: Non-operational revenue including mark-to-market, one-timegains/losses on securities and adjusted to exclude any U.S. stock based compensation plan revenue. * Reflects PH&N (2008) and BlueBay (Q1/11) acquisitions.15
Earnings and market returnsReported Net IncomeAdjusted Cash Earnings1(C millions)762665200720086696205832009610(C millions)6756514914942010YTD YTD Q3/10 Q3/1120092010YTD Q3/10YTD Q3/11Market Performance2200065412003Yield (%)Index value1600800240010S&P 500 Index3 Month U.S. Treasury Bill Yield020072008200920102011Solid financial performance in uncertain times1.2.See slides 57, 58 and 65 for reconciliation and discussion of Non-GAAP measures.Bloomberg.16Drivers of wealth management performanceMarket Returns Capital market returns drive asset values which underpinfee-based revenue8 Declining equity markets reduce asset values9 A 1% increase in markets would benefit annual earningsby 10 - 15 millionInterest Rates Short-term interest rates drive spread income on our depositsand money market funds8 Low rates have caused spread compression on deposits and62% Market Fundsfee waivers on our U.S. Money51%9 A 100 bps increase in rates would benefit annual earnings by 130 - 150 million Capital markets environment influences transaction volumesInvestorConfidence8 Market uncertainty leads to lower investor confidence resultingin reduced transaction levelsNavigating through a challenging environment17
Contribution from our businessesRevenuePre-tax margin(YTD Q3/11)(YTD Q3/11)51%RBC GAM22%WM Canada36%33%Global Trust and WM U.K.8%24%24%15%9% 8%Emerging Markets3%WM U.S.31%RBC WMRBC GAMWM CdaWM U.S.Industry average1Focused on achieving best-in-class margins1.Based on BCG Global Asset Management Benchmarking Database 2011 and BCG Wealth Manager Performance Database 2010 and 2011. U.S. industryaverage is based on North American BCG Benchmarking and publicly reported U.S. brokerage data. U.S. and Cdn industry average is for full-service brokers.Our Growth Strategy18
Our growth planEarnings 2 billion(C billions)MarketDriversLeveragingAcquisitions25 35%20 30%OrganicGrowth 0.7 billion40 50%201020152010 Actual21%18% 783 billion 0.8 millionKey MetricsPre-tax marginROEClient assets1Advisor productivity22015 Objectives30% - 35% 20% 1.3 trillion 1 millionAmbitious five year growth objectives1.2.Client Assets AUM AUA. See 2010 Annual Report for definitions of AUA and AUM.Excludes RBC GAM revenue and client-facing advisors.20Drivers of our growth tDrivers Leveraging cross-segment capabilities to accelerate growthBuilding a global high-performing asset managerExtending our Canadian leadership in HNW and UHNWImproving productivity and efficiencies in the U.S.Growing Global Trust and improving efficienciesExpanding U.K. and Emerging Markets presence Integrating BlueBay’s capabilities, client relationships andgeographic reach Accelerating growth through strategic and/or bolt-on acquisitions Returning to normal interest rates (an increase of at least 150 bps) Assuming long-term average market returns (5% - 6% per annum)Comprehensive strategy to build a leading global wealth and asset manager21
Leveraging cross-segment capabilitiesGlobal Wealth Services Delivering cost-effective, best-in-class support globally andmonitoring over 50 portfolios of initiatives across the segment Focused support on fee-based, credit and deposit products Increasing RBC Wealth Management global brand presence Driving referrals across the businessUltra High Net WorthOperations and Technology Dedicated relationshipmanagement combined with thesafety, soundness and globalreputation of RBC Developing cost-effective integratedoperational processes with aglobal/local balance Designing global technologies thatdeliver a differentiated clientexperience Deepening UHNW relationshipsand winning new clientsMeeting the needs of our businesses with global support services22Cross-segment initiative - building a profitable credit bookWealth Management Total Credit Outstanding1(C Billions) 25 billion 2 R10% CAGct)g FX impainduclx(12% e7.520079.020088.720099.92010 Building the credit book in key globalmarkets through our dedicated creditspecialists Growing credit from 2% of client assetscloser to the peer average of 5% - 7%10.8Q3/11 An increasingly important contributor oflow volatility and high-margin earningswithin acceptable risk parameters Enhancing client solutions and investingin credit processes and capabilities Increasing collaboration with our creditspecialists Leveraging our strong brand andreputation2015Strategic focus to build our credit business1.2.Spot balance represents loans and acceptances, letters of credit and guarantees.4-year compound annual growth rate.23
Leveraging acquisitions – PH&N Broadened presence in Canada across assets, clients and channels since acquisition9 Overall PH&N AUM grew 20%Additional retail AUM of 7.3 billion(Q3/11)9 Nearly doubled PH&N retail AUMto approximately 15 billion9 Strengthened HNW capabilitiesRBC Branches 63%63%Other RBC Channels110%3rd party full service advisory12%9 Cemented leadership in retail mutual fundsand institutional fixed income marketRBC WM Dominion Securities15% Complementary client-centric cultures led to seamless integration and success inretaining key employees and attracting new talentSolid Financial Performance9 Pre-tax margin 50%9 Return on Investment at 8%9 Annual net free cash flows of 41 million2Track record of successfully executing acquisitions and deploying capital1.2.Includes RBC Private Counsel, Direct Investing, Trust Services and other RBC channels.Trailing 4 quarter net earnings from PH&N (calculated as if a stand alone entity) less dividends paid on RBC shares issued for acquisition for the same period.Global Asset ManagementJohn MontalbanoChief Executive Officer, Global Asset Management24
Growing RBC Global Asset Management20072008200920102011 – 2015RBC AM CanadaPH&N CanadaVoyageur1 U.S.BlueBayGlobal 88 billion 68 billion 45 billion 39 billionBuilding a top 50 global player Global investment management services and solutions for individual andinstitutional investors in Canada, the U.S., Europe, Latin America and Asia Managing over 250 billion in AUM for more than2 million Canadians and 500 institutions worldwideClient Asset Mix(Q3 2011)Global 17% Offering a broad range of solutions from mutual,pooled and hedge funds to segregated accountsand specialty investment strategiesCanadian Retail43%North American Institutional40%Building a global leader through organic growth and strategic acquisitions1.26Acquired in 2000 and moved into RBC GAM in 2009.Strong financial performanceAssets Under ManagementRevenue(C billions)(C &N200820092010Q3/112010YTD Q3/11 RBC GAM has the highest pre-tax margins of all RBC Wealth Managementbusinesses and contributes approximately 45% of segment earnings Top-tier profitability 1.5x above the industry and top-tier in cost structure1A key driver of RBC Wealth Management profitability1.BCG Global Asset Management Benchmarking Database 2011.27
Driving success in asset managementFundPerformance Over 70% of AUM - 1st or 2nd quartile performance over 10-year terms1 PH&N ranked best overall fund group by Lipper in 20112Client Service Working with the largest multi-channel and advice-based distributionnetwork in Canada One of the lowest redemption rates compared to our competitors3 PH&N rated top quartile in client service over past 5 years4Asset Growth Increasing penetration of proprietary products Growing long-term funds faster than the industryAsset MixCostManagement Diversified Canadian and global asset mix Among the highest proportion of long-term funds in the industry Launched new innovative fixed income ETFs Efficient scale of operations Balancing growth while maintaining strong marginsCreating value for both retail and institutional clients1.3.Quartile rankings based on Morningstar Inc. data as of August 31, 2011. 2. See Slide 56 for list of awards.Investment Funds Institute of Canada reported numbers for the 12-month period ending August 31, 2011. 4.28Greenwich Associates.Extending our investment coverageTORONTO Canadian Equity (Core, Value)Canadian Fixed IncomeHigh Yield BondsU.S. Equity (Large Cap Value, Growth & Mid Cap Growth)EAFE Equity (Value)Global Resources and Precious MetalsGlobal EnergyCurrency SolutionsFixed Income ETFsLONDON BOSTONCHICAGO U.S. Equity (Small/SMID Cap Growth) Global Bonds (Corp & Gov’t)Euro Gov’t BondsHigh Yield BondsEmerging Market Bonds, EquityEuropean Equity (Core)AlternativesConvertiblesU.S. Equity (Large & Mid Cap Value)U.S. Equity (Large, Small & Micro Cap Core)International EquityHONG KONG Asian Equity (Core)MINNEAPOLIS U.S. Fixed IncomeU.S. Cash MgmtSRI U.S. Fixed IncomeNEW YORK Fund of Hedged FundsVANCOUVER Canadian Equity (GARP)Canadian Fixed IncomeHigh Yield BondsCanadian Cash MgmtDerivative OverlayBuilding a global presence by enhancing product offering and client reach29
Market-leading Canadian retail capabilitiesAUM by Distribution ChannelAUM by Client Segment(Q3/11)(Q3/11)Advisors and Counselors 26%Financial Planning 29%Mass Affluent 36%Advisory 37%Branch Direct 37% Self directing 8%High Net Worth 19%Direct Investing 8% Largest Canadian fund company with 15% market share1 Diverse client base served by multiple distribution channelsStrong product breadth and broad distribution scope1.30Investment Funds Institute of Canada.Cumulative Long term Asset Growth1 ( billions)The leader in long-term Canadian mutual fund 05/012009/03/01 102009/01/012009Growing faster than the market1.Investment Funds Institute of Canada.31
Growing our North American institutional client baseAUM by Client MandateAUM by Client Plan Type(June 2011)(June 2011)Defined Contribution4% InsuranceEquity 6%Balanced13%Fixed Income81%12% Defined Benefits60% Cash14% Other110% Largest institutional manager in Canada by AUM2 Dedicated and growing service to U.S. institutional clientsFixed income expertise is a competitive advantage1.2.32Other includes Sub-advisory, Endowments and Foundations.Benefits Canada.Growing global capabilities with BlueBayAUM by Client SegmentAUM by Client Region(Q3/11)(Q3/11)3rd Party HNW Distribution36%Institutional59%Europe 84%Asia and Australia 13%Americas2%Middle East and Africa 1%Multi Manager 5% Leading European fixed income specialist with over 43 billion in AUM1 Over 250 employees in London, Japan, the U.S., Hong Kong and Luxembourg Core investment focus on global and emerging markets, corporate credit andabsolute return strategiesStrengthening our global product solutions and capabilities1.As of Q3/11.33
Opportunity to increase RBC GAM products in RBC channelsRBC GAM Penetration of Long-Term Managed Funds1(Q3/11)RBC Canadian Banking95%20%RBC Wealth ManagementWealth Management Canada44%Wealth Management U.S. 0%International Wealth Management26%9 Leveraging multi-channel distribution9 Expanding product and solution offerings, particularly for HNW9 Enhancing sales and service capabilitiesSignificant opportunity to grow share1.Represents the proportion invested in RBC GAM long-term managed funds of total client funds. Funds include mutual funds, pools and separately managedaccounts. WM-U.S. funds exclude separately managed accounts. 2. Includes Global Trust and WM-U.K., and WM-Emerging Markets.34Building a global high-performing asset managerCanada Extending retail and institutional leadership through outstandingproduct breadth and extensive distribution capabilities Capitalizing on retirement trends Combining RBC, PH&N and BlueBay solutions to growinstitutional market share Achieving scale and growing institutional market shareU.S. Accelerating BlueBay’s growth Collaborating with RBC Capital Markets Executing and leveraging acquisitionsGlobal Building our non-North American asset management capabilities Enhancing products and services to complement the retirementand planning needs of our geographic wealth businessesExtending our lead in Canada and growing globally35
Wealth Management - U.S.John TaftChief Executive Officer, Wealth Management - U.S.Evolution of RBC Wealth Management – U.S.2001Dain Rauscher and Tucker Anthony Sutro20032007 – 20092004First Institutional Securities and Jones & BabsonWilliam R. Hough & Co.Record J.B Hanauerrecruitment and of Ferris Baker Financial WattsAdvisors20102011 – 2015International Improve JP Morgan Wealth U.S. productivity JP Morgan RIA and and 1 BusinessRIABusinessU.S. Trustefficiency Private Client Group doubled the number of Financial Advisors in the last decadethrough acquisitions and record levels of recruitment9 6th largest full-service advisory firm by financial advisors19 7th largest wealth manager by assets29 Highest in Investor Satisfaction with Full Service Brokerage Firms in theJ.D. Power and Associates 2011 Study9 Positioned to compete with large-scale traditional U.S. brokerages Correspondent Services is the 7th largest clearing firm by broker-dealer clients3 and6th largest Registered Investment Advisor custodian by assets4A meaningful U.S. presence – a critical component of being a global leader1.Sourced from company websites.2.Reuters, November 2010.3.Investment News, July 2011.4.Cerulli’s RIA Service Agent Survey, Q2 2011.37
Broad suite of businesses Over 2,000 Financial Advisors servingmore than 350,000 households in 42 statesPrivate ClientGroup Over US 180 billion in AUA Meeting the international needs of nearly9,000 clients from offices in New York,Houston and MiamiInternationalWealth - U.S. Approximately US 5 billion in AUA Serving over 4,000 independent FinancialAdvisors and more than 200 independentRIAs with over US 36 billion in assetsCorrespondentand AdvisorServicesMulti-channel distribution38Growing in a competitive environmentAssets Under Administration1Revenue per Financial Advisor1(US billions)(US 0820095542010YTD Q3/112 Revenue per advisor above industry median; pre-tax margin of 8% in line withthe industry average Fee-based plus spread revenue represents 43% of total revenue In Correspondent and Advisor Services, grew assets by approximately 60%since 2008Shifting focus to achieving best-in-class productivity and efficiency1.2.Excludes Correspondent and Advisor Services.Annualized.39
Improve our performance in the U.S. Aiming to increase annual revenue per advisor to US 1 yDistribution Increasing HNW relationships Growing fee-based assets by simplifying pricing Enhancing credit and cash planning solutions Offering innovative practice development programs Investing in technology to re-engineer and automate processes Implementing more robust client relationship management tools Aligning U.S. wealth client relationships with RBC GAM, GlobalTrust, RBC Capital Markets and International Banking Institutional Middle Markets partnership with RBC Capital Markets Offering international wealth capabilities to Private Client Group Increasing market share and exploring bolt-on acquisitions inCorrespondent and Advisor ServicesDriving advisor productivity and business efficiency40Global Trust and Wealth Management - U.K.George LewisGroup Head, RBC Wealth Management
An established leader in Global Trust19982000Coutts British Isles Corporate Clients 2005Ernst & Young Guernsey and JerseyAbacus Financial Services British Isles20092011 2015Mourant Private Wealth JerseyStrengthen Global Trust and build WM U.K.Global Trust has over US 125 billion in client assets serving close to 14,000 clientsfrom offices in the U.K., Channel Islands and Caribbean9 Integrated trust and wealth solutions for HNW, UHNW and corporate clients9 Differentiated value proposition provides a clear competitive advantage,particularly in an escalating regulatory environment Wealth Management – U.K. is a developing and growing wealth business servingover 1,100 clients with close to US 4 billion in client assetsStrong financial performance with pre-tax margins of 22%Using our Global Trust leadership to expand Wealth Management - U.K.42World-class trust and wealth expertiseRevenue by Product1Clients by Residence1(Q3/11)(Q3/11)Caribbean & Latin America20%Banking 32%Trust41%UK57%Discretionary 9% Funds Custody 3% Credit Advisory6%5%4%Middle East9%Europe8%North America3%Other2Asia 2%1%Trust solutions and expertise with banking, credit, tax and investment servicesInternational clients value multi-jurisdictional wealth planning capabilities and thesafety and soundness of RBCDiversified business with an international HNW client base1.2.Includes Global Trust and Wealth Management - U.K.Other includes Africa and Oceania.43
Growing the business and improving efficienciesGrowingMarket Share Developing and offering trust solutions to clients across RBCWealth Management Expanding into developed and emerging marketsBroadeningClientRelationships Broadening and strengthening client relationships throughtailored cross-selling and enhanced solutions Building on our Primary Relationship Manager modelProductivityand BusinessEfficiencies Extending operations and technology transformation Improving the client experience by strategically investing inpeople and solutionsBuildingWM – U.K. Leveraging presence of Global Trust and RBC GAM to build theU.K. as a 3rd key geographic market Actively recruiting new talentA balanced approach to international expansion44Wealth Management - Canada
The leader in CanadaEstate andTrust ServicesDominionSecurities Over 1,480 Investment Advisorsand Portfolio Managers Serving over 320,000 households Over 180 billion in AUA Over 120 client-facing professionals Serving 2,500 clients/estates Over 18 billion in AUAInternationalWealth CanadaPH&NInvestmentCounsel Over 170 employees in 15 offices Serving HNW and institutions Over 15 billion in AUM Over 60 employees in Toronto,Montreal and Vancouver Serving non-resident clients withinternational needs Over 2 billion in AUALargest and most comprehensive wealth manager in Canada46Strong financial performanceAssets Under AdministrationRevenue per Client-Facing Advisor(C billions)(C thousands)201168200821218220099162010Q3 20112008820200989720101,029YTDQ3/112 Overall RBC leads the industry with 17% of the HNW market1 Fee-based plus spread revenue represents approximately 65% of total revenue Collaborating with RBC GAM, Canadian Banking and RBC Capital Markets to offer asophisticated range of solutionsIndustry leader in Canada1.2.Investor Economics.Annualized.47
Why we are winning in Canada Proven ability demonstrated by award-winning businesseswith #1 positions in:Market Leader9 Full-service brokerage9 Discretionary investment management/counseling9 Esta
RBC Wealth Management Investor and Analyst Day October 21, 2011 1 . Scorpio 2011 (Analysis of year-end 2010 results of 198 business entities active in the management of HNW private client wealth). 2. Scorpio defines client assets as AUA AUM of wealth businesses, which excludes asset management businesses and estimated custody, trust and .
2 RBC FUNDS AND RBC PRIVATE POOLS Annual Information Form Name, formation and history of the funds This annual information form contains information about the RBC Funds (collectively, the RBC Funds) and the RBC Private Pools (collectively, the RBC Private Pools and together with the RBC Funds, the ) listed on the cover page. In this document:funds › we, us and our refer to RBC Global Asset .
2 RBC FUNDS AND RBC PRIVATE POOLS Annual Information Form Name, formation and history of the funds This annual information form contains information about the RBC Funds (collectively, the RBC Funds) and the RBC Private Pools (collectively, the RBC Private Pools and together with the RBC Funds, the ) listed on the cover page. In this document:funds we, us and our refer to RBC Global Asset .
The views expressed herein reflect the RBC GAM-US as of 6.30.17. Views are subject to change at any time based on market or other conditions. RBC Global Asset Management (U.S.) Inc. (“RBC Global Asset Management - US” or “RBC GAM-US”) is a federally registered investment adviser founded in 1983. RBC Global Asset Management (RBC GAM) is the
1.2 The Scope of our Wealth Management Services 1.3 Components of Wealth Management 1.4 Process of Wealth Management 1.5 Need for Wealth Management 1.6 Expectation of Clients 1.7 Challenges to Wealth Management in India 1.8 Code of Ethics for Wealth Managers 1.9 Review Questions 1.1 Introduction to Wealth Management What is 'Wealth Management'?
RBC Global Asset Management Inc. Daniel E. Chornous, CFA – Chief Investment Officer, RBC Global Asset Management Inc. GLOBAL FIXED INCOME MARKETS . The bond-market outlook 44. Soo Boo Cheah, MBA, CFA – Senior Portfolio Manager, RBC Global Asset Management (UK) Limited Taylor Self, MBA – Senior Analyst, RBC Global Asset Management (UK) Limited
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Annual Report 2018 REPORT Contents The Provost 2 The Fellowship 5 Tutorial21 Undergraduates37 Graduates42 Chapel46 Choir 52 Research 60 Library and Archives 64 Bursary67 Staff 71 Development75 Major Promotions, Appointments or Awards 103 Appointments & Honours 104 Obituaries107 Information for Non-Resident Members 319. The University has been the subject of press attention in relation to the .
