RBC Wealth Management, part of Royal Bank of Canada has been named as "Institutional Trust Team of the Year" at the Society of Trust and Estate Practitioners (STEP).
Competing against bank-owned trust companies from around the world, RBC Wealth Management was judged to have demonstrated success in a number of areas including client retention; in-house investment management capabilities and performance; client tax advice; and a clear policy towards the handling of client data.
The STEP Private Client Awards judges said, “RBC Wealth Management’s independent approach to trusteeship and open architecture approach to asset classes was praised, as was their low staff turnover and commitment to training.”
Paul Patterson, Global Head of Trust, RBC Wealth Management, commented: “We are delighted that the judges singled out our independent approach as a differentiator as well as our continuing focus on meeting the evolving needs of our clients around the world.”
RBC Wealth Management provider trust services globally, with nearly 600 core trust staff serving more than 5,000 clients in 10 trust jurisdictions. Earlier this month it announced the opening of a new trust office in Singapore operating as RBC Trust Company (Singapore) Pte Ltd.
The annual STEP Private Client Awards highlight excellence among private client solicitors/attorneys, accountants, barristers, bankers, trust managers and financial advisors. Winners were selected by STEP judges and a panel of experts representing internationally renowned lawyers, accountants, barristers and trust companies.
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