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19% fall in revenues for RBC Wealth Management

RBC Wealth Management, the private banking arm of the Royal Bank of Canada, posted a third quarter net income of C$156 million (US$158 million), a 19% year-on-year drop. Much of the drop was attributed to weaker transaction volumes by clients, likely due to uncertain market conditions and lower risk appetites. Assets under management (AUM) saw a slight uptick as the…

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