Royal Bank of Canada (RBC) has announced its shifting to new offices in Dubai, signalling its intentions to grow its presence in the Middle East.
Targeting clients from across the Middle East, East Africa and India, RBC Wealth Management provides high net worth individuals with a full suite of banking, investment, trust, foundation, and other wealth management solutions, as well as employee and executive services to corporates. As a representative office of RBC Wealth Management, the Dubai office acts as a key liaison hub for clients to gain access to RBC Wealth Management’s services worldwide.
The new offices will allow space for RBC Wealth Management to execute its plans to grow its team of Dubai-based bankers, to which five relationship bankers have recently been added. In addition, the offices will provide a base for advisors and professionals visiting from across RBC Wealth Management, including London, Geneva, Singapore, Hong Kong, the Channel Islands, Canada, and the United States.
Barend Janssens, Head of RBC Wealth Management -Emerging Markets, commented: “This move demonstrates our belief in the increasing importance of Dubai as a gateway for serving high net worth clients from across the region. Our approach is becoming ever more relevant to Middle Eastern clients, who are increasingly seeking access to a wide range of international wealth management solutions. The new offices will help us better serve our clients as we look to grow our presence in Dubai.”
Vineet Arora, Director and Chief Representative, RBC Wealth Management, based in Dubai, said: “RBC Wealth Management has been present in Dubai for nearly 40 years, having opened its first presence here in 1974. This new office marks an important step in our history in the United Arab Emirates, enabling us to put in place the infrastructure to support our growth strategy.” The new offices are located at the 14th floor of Park Place Tower on Sheikh Zayed Road.