Staff
RBC is looking at expanding its wealth management operations through acquisitions of up to $5 billion, according to the bank’s chief financial officer.
At the Morgan Stanley Financials Conference in New York City on Wednesday, Janice Fukakusa said the size of any potential purchase could be anywhere between $1 billion and $5 billion.
RBC has been actively expanding its wealth management division over the past few years. The bank bought BlueBay Asset Management in 2010 and Phillips, Hager & North in 2008.
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