The head of Royal Bank of Canada has reiterated the bank’s view that it is looking to boost the size of its wealth management arm with acquisitions but said it did not expect to make a big US retail acquisition soon, according to Reuters.

Gordon Nixon, CEO, said the bank is eager to boost its capital markets and wealth management segments.

But while there has been much speculation that RBC would also like to build on its US retail banking presence, Mr Nixon was quoted as saying that he did not expect imminent deal-making because restructuring in the industry was proceeding slowly.

His comments are not new: WealthBriefing, in an interview with senior RBC Wealth Management executives earlier this year, reported that the bank is still interested in acquisitions. RBC has, unlike many of its southern neighbours in the US, emerged in relatively good shape from the credit crunch.

"With respect to larger opportunities, we're going to be in a period for quite some time here where a lot of the weaker, mid-sized banks continue to rebuild their strengths, and I think it will take some time before restructuring takes hold in the US marketplace," Mr Nixon reportedly told a Goldman Sachs financial conference in New York.

"In that environment, I think it's pretty unlikely that there will be anything significant or sizeable that will occur in the banking space,” he said.