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RBC hungry to grow wealth management arm says CFO

Royal Bank of Canada (RBC), at one point tipped as a potential acquirer of Generali’s private banking business, BSI, remains open to inorganic growth, according to its chief financial officer, Janice Fukakus. Speaking at the Morgan Stanley US Financials Conference in New York, Fukakus said that it could spend up to US$5 billion, adding that the bank remains cautious enough to…

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