RBC Wealth Management was named “Outstanding Private Bank – North America” earlier this week at a wealth management conference in Singapore, Royal Bank of Canada said Friday.

The Private Banker International Wealth Management Summit 2009 is organized by Private Banker International.

The Wealth Management Awards are based on nominations from the worldwide readership of the global wealth journal with winning institutions chosen by the magazine’s advisory board of independent industry experts.

“This award recognizes the strength, stability and leadership of RBC in our domestic market and our longstanding commitment in over 20 countries around the world to helping high net worth clients grow, preserve, protect and ultimately transfer wealth to succeeding generations,” says George Lewis, group head, RBC Wealth Management.

“The award is a testament to the success of our diversified business model and ability to provide our global client base with an integrated wealth management offering. Most importantly, the award recognizes the high levels of dedication and expertise of our employees,” Lewis adds.

“RBC is one of the select few banks that have been enjoying a flight to quality by clients, reflected in a steadily growing international private banking franchise,” says William Cain, editor, Private Banker International. “RBC has ambitious plans for international wealth management growth,” Cane adds.

The other finalists in the category were Bessemer Trust and Wells Fargo.

HSBC Private bank was named “Outstanding Global Private Bank”.

In addition, RBC’s Matthew Yong, president, RBC Wealth Management, Asia, was recognized as one of the world’s “Outstanding Young Private Bankers”. The award is presented to individuals who represent the future of the industry and have demonstrated excellence in their field, through either leadership, innovation in products and services, excellence in strategy or a combination of the three.

IE