Royal Bank of Canada has big ambitions in the international financial markets, and is steadily building a big base in London, home to much of the firm’s capital markets and wealth management activities. It now employs 1,400 people within these businesses in the UK’s capital.
But it all started from humble beginnings a century ago this September. In 1910 Royal Bank opened its first London branch, with a staff of four, in Princess Street. In 1932 it moved to purpose-built premises at 6 Lothbury, overlooking the Bank of England.
Now RBC occupies a larger but nondescript block on a busy road that runs from Blackfriars to the Tower of London, situated next to the Thames. It’s a strip that has been home to many banks over the years. Sometimes it has been a staging post for bigger and better things, as for operations of previous local tenants HSBC and Barclays. RBC will hope to follow their example rather than that of a more recent neighbour, Dresdner Kleinwort Benson.
To commemorate its London centenary, RBC sent umbrellas to clients. No doubt that’s intended to show how they understand Brits’ obsession with the weather – and, multiplying the cliché, by implication the needs of their clients as well.
But at Euromoney we wondered whether any UK banks had plans to celebrate anniversaries for their own businesses in Canada, and if so what would they send round as an item of memorabilia reflecting the national obsessions of the country, such as ice hockey. The UK press officers weren’t too sure. "What, the puck?" one replied.