Strategy

RBC To Close A Uruguay Wealth Management Office

Tom Burroughes Group Editor 16 August 2013

RBC To Close A Uruguay Wealth Management Office

Royal Bank of Canada’s wealth management division will shut an office with about 40 employees in Montevideo, Uruguay, at the end of October, the Toronto-headquartered bank has confirmed to this publication. 

RBC, which has served Latin American clients for over 100 years, will continue to do so via a different business model, a spokesperson for the bank told Family Wealth Report today.

A news report by Bloomberg said some employees may move to other locations, and the office will provide services until October 31.

 

 

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