Deals
RBC May Use U.S. Proceeds on Wealth Management, Nixon Says
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Royal Bank of Canada may use proceeds from the $3.62 billion sale of its money-losing U.S. consumer bank to expand in global asset management, Chief Executive Officer Gord Nixon said.
Canada’s largest lender may also use the cash from the sale of the unit and credit-card assets to PNC Financial Services Group Inc. for share buybacks, dividends and organic growth, Nixon said in a conference call today with analysts.