RCB Launches India Office For High Net Worth Individuals

Filed in archive Investing on February 3, 2008

In a HedgeCo story today it was announced that RBC (The Royal Bank Of Canada) has entered the Indian market by opening its first office in the financial hub of Bandra Kurla, Mumbai, in order to provide wealth management services to high net worth individuals and provide capital market services including global debt funding to Indian banks, corporations and financial institutions.

"The strong growth of the Indian economy presents huge opportunities," said Gordon M. Nixon, RBC president and chief executive officer. "RBC is committed to expanding outside North America into areas where we can show competitive strength and India is a natural choice for our strategy in Asia. India is showing an increasing demand for areas in which RBC has competitive strengths, infrastructure and project finance, energy, metals and mining, structured products, currency and bond trading, and wealth management services."

Akhauri Sinha, country head, RBC India, will lead RBC's overall operations in India, while Dipendarra J. Singh will lead RBC's wealth management business with a focus on high net worth individuals, and Vikas Jambotkar will focus on providing RBC services to Indian financial institutions, as well as capital markets services to corporations.