The Royal Bank of Canada provides personal and commercial banking, wealth management services, insurance, corporate, investment banking and transaction processing services on a global basis. RBC employs more than 80,000 full and part-time employees who serve more than 17 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 48 other countries.
RBC’s five business segments are:
Canadian Banking
Canadian Banking
Canadian Banking provides personal and business financial services in Canada. Through our leading national distribution network and the most valuable brand in Canada, we reach approximately 10 million clients through our extensive branch and ATM network, proprietary and specialized sales forces, online channels and contact centres. This segment is headed by Dave McKay.
Wealth Management
Wealth Management businesses serve affluent and high net worth clients around the world and provide asset management and estate and trust services directly to clients and through internal partners and third-party distributors. This segment comprises Canadian Wealth Management, U.S. & International Wealth Management and Global Asset Management. We are a market leader in Canadian wealth and asset management, and we have strong and growing businesses in the U.S. and internationally. With more than 4,000 financial consultants, advisors, private bankers and trust officers in 24 countries, we help clients grow, protect and transfer their wealth. This segment is headed by George Lewis.
- RBC Dominion Securities
- RBC Asset Management Inc.
- RBC Estate and Trust Services
- RBC Wealth Management, International
- RBC Private Counsel
- RBC Wealth Management, US
- Voyageur Asset Management Inc.
Voyageur Asset Management Inc. offers equity and fixed income investment strategies under the Voyageur and Tamarack names. A registered investment advisor, headquartered in Minneapolis, Minnesota, Voyageur offers investment strategies to institutions as well as individuals, through Voyageur Institutional Services and Advisory Service Divisions.
International Banking
International Banking comprises our banking businesses in the U.S. and Caribbean, and global custody and investor services, which we provide through our 50% ownership in RBC Dexia Investor Services. This segment is headed by Jim Westlake.
Capital Markets
Our diverse Capital Markets businesses provide corporate, government, and institutional advice, capital, and access to the world’s financial markets and innovative products to help them achieve their growth objectives. By leveraging our leadership position in Canada, we have built a strong and growing U.S. mid-market capital markets franchise. Outside North America, we have established ourselves as a leading provider of global financial services and are recognized as a top 15 global investment bank. Notable areas of strength include global fixed income distribution capabilities, structuring and trading, and foreign exchange. In addition, we continue to build our global capabilities in energy, mining and infrastructure finance. This segment is headed by Doug McGregor and Mark Standish.
Insurance
We provide Canadians with improved access to insurance choices through a wide range of insurance solutions including life, health, travel, home, auto, and creditor insurance services to individual and business clients. These products are distributed through third-party channels including independent life insurance advisors and travel agents as well as through our growing proprietary channels such as retail insurance branches, bank branches, call centres, online, and our career sales force. In the U.S., we offer life insurance, annuity products and travel insurance. Outside North America, we operate a specialty reinsurance business. This segment is headed by Jim Westlake.
