Royal Bank of Canada (RBC) subsidiary RBC Wealth Management is set to move to new offices in London, as it looks to raise staffing levels and grow its UK business.
The City of London-based company is to shift operations from 71 and 77 Queen Victoria Street to Riverbank House on Swan Lane – near RBC’s headquarters.
The company plans to take on 70 new staff by 2015 for its wealth management team, which currently numbers 30.
Mike Moodie, Head of RBC Wealth Management UK, said: “This new office space is proof of our ambitions and reflects RBC’s focus on further establishing the UK as the third ‘home’ market for our two global businesses, RBC Wealth Management and RBC Capital Markets.
“We see tremendous opportunities to grow our wealth management business in the UK, focusing on clients based in London and the South East. Riverbank House offers outstanding facilities which I know will be enjoyed by employees, clients and alike.”
RBC also plans to transfer employees of its RBC Dexia joint venture to Riverbank House.