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RBC Expands Global Wealth Management Team

by Carla Johnson, Investors, London

17 August 2007

Due to increased demand, Royal Bank of Canada is expanding its Global Wealth Management team in London and Guernsey with the appointment of three new senior wealth managers to its wealth management team in the British Isles.

Ivan Narandja joins RBC from Credit Suisse Private Banking, where he was instrumental in growing a sizeable book of clients. Ivan has worked in the private banking industry for 10 years, including a role at Merrill Lynch prior to joining Credit Suisse. At RBC Ivan will be based in London and will use his experience to meet the growing demand for wealth management services from clients and their administrators in the Americas.

Olly Spry joins RBC from Fimat, part of Société Générale Group, where he worked as an equity sales trader. At RBC, Olly will work with high net worth private clients and will build a client base to include the beneficiaries of company share schemes and international pension plans. Olly will also be based in London.

Edward Jenkins joins RBC’s Guernsey office from Barclays Wealth, Guernsey, where he provided a wealth management service for trust companies. At RBC Edward will use his expertise to provide wealth management services to individuals, trusts and corporate clients.

Commenting on the appointments, Mark Evans, Head of Private Banking, British Isles, said:

“Following a sustained period of considerable growth for RBC’s private banking business, we are seeking to expand our private banking team and I am pleased to welcome Ivan, Edward and Olly. Each individual brings with them the necessary skills, expertise and talent to enhance our business and enable us to meet the constantly evolving needs of our clients.”

Global Private Banking is part of RBC Wealth Management which directly serves affluent and high net worth clients in Canada, the United States, Latin America, Europe and Asia. RBC Wealth Management provides asset management and trust services through RBC partners and third-party distributors and has over $500 billion of assets under administration, 3,500 financial advisors and $150 billion of assets under management.

Royal Bank of Canada (RY on TSX and NYSE) and its subsidiaries operate under the master brand name of RBC. It is Canada’s largest bank as measured by assets and market capitalization and one of North America’s leading diversified financial services companies, providing personal and commercial banking, wealth management services, insurance, corporate and investment banking and transaction processing services on a global basis.

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