Trusts & foundations: News
Royal Bank of Canada named top trust provider in UK 09/08/2006
Author: Stuart Fieldhouse
Royal Bank of Canada has been recognised as one of the best providers of trust services in the UK, according to the Euromoney annual global private banking survey.
Abacus Financial Services Group, which was acquired by Royal Bank of Canada on November 30, 2005, took the #1 spot, and Royal Bank of Canada placed #2. As a result RBC Abacus has emerged as the clear leader for trust services in the UK.
The survey is one of the most respected in the industry with more than 20,000 industry specialists nominating those peers they believe to be the best in their specialisations. Euromoney's awards criteria is defined as banking services targeted to wealthy clients and it is considered the guide for high net worth individuals looking for the best providers in each category.
"There is no greater accolade than receiving third-party endorsement from industry peers," said Paul Patterson, head of private client services for RBC Abacus. "RBC Abacus is proud of its trust services and to be publicly recognised at these prestigious awards is testament to the high level of service and expertise we provide in all areas of wealth management."
RBC Global Private Banking is Royal Bank of Canada's international wealth management operation, including private banking, trust services, discretionary investment management, global custody and international full-service brokerage. RBC Global Private Banking locations are selected for the flexibility and security they provide our clients and for the integrity of their financial and regulatory systems. With a network of offices in over 25 key financial centers around the world, RBC Global Private Banking provides international financial services for private and corporate clients resident in more than 150 countries.
"Now that Abacus is part of RBC, we are a truly global financial institution with a combined strength in a full range of wealth management solutions. This additional scope and strength can only enhance our reputation for excellence, which has been recognised by this award," said Huw Bolle-Jones, head of Private Clients, Fiduciary Services, British Isles, RBC Abacus, and former Group Chief Executive of Abacus Financial Services Group.
