Welcome to our dedicated page for Royal Bank of Canada news (Ticker: RY), a resource for investors and traders seeking the latest updates and insights on Royal Bank of Canada stock.
Royal Bank of Canada (RY) is a leading Canadian multinational financial services company, renowned as the largest bank in Canada by market capitalization. With its headquarters in Toronto, RBC serves over 17 million clients worldwide and employs more than 89,000 people across the globe.
Founded in 1864, RBC offers a diverse array of financial services, including personal and commercial banking, wealth management, insurance, corporate banking, and capital markets services. The bank's operations are primarily concentrated in Canada, but it also has significant presence in the United States and other international markets.
RBC's commitment to innovation and client-centric services has positioned it as a leader in the financial sector. Recently, RBC Capital Markets launched RBC Clear™, an innovative Cash Management solution designed to deliver a seamless cash management experience for Fortune 1000 corporations in the U.S. This platform offers unique features that enhance transaction transparency and traceability in near real-time.
Moreover, RBC Clearing & Custody plays a crucial role in supporting firms like Aegis Capital Corporation, providing them with conflict-free service platforms and a full range of products and services including investment banking, wealth management, and more.
Financial stability is a hallmark of RBC, underpinned by a strong capital base and consistent financial performance. As a globally recognized institution, RBC is committed to helping its clients thrive and contributing positively to communities through donations, community investments, and employee volunteer activities.
For the latest updates on RBC's financial performance and strategic initiatives, visit the StockTitan RBC page.
RBC Global Asset Management (U.S.) Inc. has launched the RBC China Equity Fund for U.S. investors, targeting a diverse range of industries in China. Managed by Siguo Chen and Mayur Nallamala, the fund will primarily invest in common stocks and depositary receipts, focusing on companies with strong management and risk management records. This is the first mutual fund offered to U.S. investors from RBC's Asian Equity team. The fund integrates ESG considerations into its fundamental analysis and is available in Class A, I, and R6 shares.
Royal Bank of Canada (RY) is set to acquire Brewin Dolphin for 515 pence per share, valuing the deal at approximately C$2.6 billion (£1.6 billion). Brewin Dolphin, a leading UK wealth management provider, offers discretionary services with £59 billion in assets under management. This acquisition aims to enhance RBC's market position to third in the UK and Ireland, fostering growth and synergies. Projected benefits include a 1% adjusted EPS accretion in the first year and a long-term revenue CAGR of approximately 9%. Completion is anticipated by Q3 2022, pending regulatory and shareholder approvals.
RBC Global Asset Management (U.S.) has launched the RBC Global Equity Leaders Fund aimed at U.S. investors. This Fund will invest in a concentrated portfolio of large-cap global companies, focusing on delivering alpha through stock-specific risks and emphasizing strong management alongside ESG practices. Led by a seasoned Global Equity Team, the fund aims for long-term sustainable change and aims to capture alpha through ESG integration. It is available in multiple share classes, namely Class I, Class A, and Class R6.
RBC, in collaboration with Golf Canada, launched the RBC Community Junior Golf Program aimed at enhancing affordable access to golf for youth in underrepresented communities in Canada. PGA golfer Harold Varner III will serve as an ambassador, guiding youth through golf programming. By 2023, the initiative plans to engage over 10,000 young players with free golf lessons and reduced green fees. RBC’s broader commitment includes a $500 million investment in Canadian youth through the Future Launch initiative.
RBC Race for the Kids will be hosted in a global virtual format on October 16-17, 2021. Registration is now open for participants of all abilities, featuring a new mobile app that enhances engagement. In 2020, the event raised $8.8 million for youth-focused charities. This year, participants can select their distance, track performance, and connect socially using the app. RBC has a history of supporting over 35 charities globally, with total funds raised exceeding $65 million through this initiative.
Alliance Data Systems Corporation (NYSE: ADS) announced on January 28, 2021, that its Bread division is licensing its payments technology platform to RBC (NYSE: RY). This partnership allows RBC to enhance its payment solutions for Canadian merchants, leveraging Bread’s white-label digital payments platform. Launched in fall 2020, RBC's PayPlan enables customers to pay for large items over time. This collaboration aims to expand Bread's growth and improve the user experience for merchants, potentially increasing revenue and reducing shopping cart abandonment.
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