In a quarter marked by muted client activity, RBC Wealth Management (WM) bested its North American private banks in terms of first quarter financials, increasing revenues by 36.6% quarter-on-quarter (QOQ). RBC WM’s stellar growth is largely attributable to the group’s acquisition of Los Angeles-based bank City National Bank, which contributed US$42 million to its total wealth management earnings. As a result, revenue for…
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