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Quote of the week

"[People] don’t expect retirement to begin with social security and sit on the back deck in a lounge chair for the rest of their lives. This group really wants to remain active."

Jeff Cimini, head of personal retirement at Merrill Lynch

Royal Bank Of Canada Bolsters International Wealth Arm

Max Skjönsberg
London

21 June 2012
Daily News Analysis

RBC Wealth Management has added Pedro Cañas to its international wealth management arm as first vice president and international financial advisor.

Cañas joins the firm from Oppenheimer in New York, where he provided wealth management services for high net worth clients in Venezuela and Argentina. Earlier in his career, he worked at ANZ Securities and Bear Stearns & Co, with a focus on Latin America.

The international division of the Canadian wealth manager boasts 2,300 employees and 35 offices across the globe.

Back in March, RBC Wealth Management agreed to buy the Latin American, Caribbean and African private banking business of Coutts, the wealth division of Royal Bank of Scotland Group. The business has client assets in excess of $2 billion, but the terms of the transaction were not disclosed.

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