RBC to Shut Caribbean Wealth-Management Business, Cut Jobs
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Royal Bank of Canada is exiting wealth management in the Caribbean and reviewing its Swiss operations as the lender extends a retreat in its international wealth business that began last year in Latin America.
Royal Bank, Canada’s second-largest lender by assets, is also closing some international advisory and private-banking groups in Canada and the U.S., Claire Holland, a spokeswoman for the Toronto-based bank, said today in an e-mailed statement.