RBC believes the overhaul of its electronic trading platform is going to pay dividends in this year’s Euromoney FX survey.

Royal Bank of Canada has become the first Canadian bank to act as a market-maker through the RTFX FX trading platform, a marketplace of more than 650 financial institutions, as it seeks to expand its global coverage of foreign exchange, particularly in Asia.

Canadian bank sees great potential to distribute credit investments; BlueBay’s founders hope clients will take comfort from RBC’s capital strength

To commemorate its London centenary, RBC sent umbrellas to clients. Euromoney wondered whether any banks had plans to celebrate anniversaries for their businesses in Canada, and if so what would they send round.

Royal Bank of Canada had a great crisis, and it’s thriving through the recovery as well. It has established its position as one of the biggest, as well as best-run, banks in the world. But its new prominence brings added pressure and responsibility to RBC’s long-serving chief executive, Gordon Nixon. He spoke to Clive Horwood.

Canadian bank to hire slew of new managing directors; focus will be on ECM and M&A in Europe.

Cautious global expansion pays off.

The credit crisis has left the country’s banks relatively unscathed, and regulators around the world want to find out why. But is a conservative culture stopping local players achieving their global potential? Helen Avery investigates.

Despite being neighbours and indeed competitors of US counterparts, Canada’s banks have fared much better than them in avoiding sub-prime related losses. And of all the Canadian financial groups one bank stands out as having enjoyed the best 2007-08 period – TD Bank. TD is the only large bank in Canada to have had no credit-related write-downs.

RBC Capital Markets is building a European leveraged finance team.

Royal Bank of Canada has launched its €15 billion covered bond programme with a jumbo issue in the European covered bond market. The deal is Canada’s first ever covered bond.

In October, Royal Bank of Canada (RBC) added to its set-up in the Caribbean. The number one Canadian bank announced a $2.2 billion acquisition of RBTT (Royal Bank of Trinidad and Tobago) Financial Group. RBTT had been in discussions with potential buyers since April and suitors included Canadian rivals Scotiabank and CIBC, through its FirstCaribbean unit. RBC is paying for the group with 60% cash in hand and a further 40% in RBC shares.

Rumours that RBC Capital Markets had let go up to 40 sales and trading officials in the US were firmly denied by officials at the Canadian bank, who refused to comment on possible redundancies.

Awards of Excellence

RBC Capital Markets announced the completion of two of the first ever rouble-denominated bonds since the rouble became fully convertible.

Euromoney Awards for Excellence 2006

BEST BANK

Best bank

Best bank - Royal Bank of Canada

Canada’s secretary of state (international financial institutions)

After decades of steady growth for six big banks, the Canadian banking sector is fast consolidating. The old certainties have been undermined by the announcements of mergers between Royal Bank of Canada and Bank of Montreal in January and Canadian Imperial Bank of Commerce and Toronto Dominion Bank in April. The rush to merge follows a global trend fuelled by the need to cope with increased competition, and was stimulated by the BankAmerica/NationsBank merger in the US. But unlike their US counterparts, RBC/BMO and CIBC/TD have to run the gauntlet of rigorous banking regulation, entrenched political conventions and hostile popular opinion.

Canada's six largest banks dominate their home market, so it's hardly surprising they are looking abroad for growth opportunities. But their expansion strategies could hardly be more different: while Nova Scotia is buying up Latin American banks, CIBC is becoming a player on Wall Street and Toronto Dominion is cultivating a niche as a discount broker. But what would really allow Canadian banks to become serious global players would be if the government were to allow them to merge. Richard Blackwell reports.

Out went the traders; out, a few days later, went the man they had been chafing against, John Abell; out went two top syndicate men....