group head of wealth management, is keeping an eye out for future acquisitions in both Britain and the United States as the bank looks to further boost its global presence in wealth after closing the recent purchase of Brewin Dolphin Holdings PLC.
“We think there’s more potential for the region for sure,” Mr. Guzman said in an interview at his downtown Toronto office. “We like the industry structure and we’ve been watching it for a while.”Currently, RBC’s wealth management arm includes operations in Canada, the United States and Europe that oversee about $1.3-trillion in assets under administration as of August – a 48-per-cent jump from where the division was five years ago.
At the beginning of 2022, Mr. Guzman’s role was expanded to include the U.S. head of wealth management and chair of City National Bank, which has grown to US$91-billion in assets, up from US$36-billion in 2015.
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I guess they’re not bullish on Canada. Big surprise.