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Royal Bank of Canada targets wealth-management firms for US banking expansion
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Royal Bank of Canada targets wealth-management firms for US banking expansion
Royal Bank of Canada (RBC) is eyeing to expand its US banking operations through the acquisition of “highly coveted” wealth-management firms, reported Bloomberg. Chief executive officer Dave McKay has expressed the bank’s interest in enlisting advisers capable of attracting new clients and is particularly keen on businesses that can contribute “lots of sweep deposits” to enhance RBC’s funding within the US market. The expansion strategy also …
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