RBC Wealth Management, part of Royal Bank of Canada (RY on TSX and NYSE), and the sixth largest wealth manager in the world, has been recognized as providing the best private banking services in Cayman Islands, as well as in the Caribbean as a whole, according to Euromoney, a global banking publication.

RBC Wealth Management’s George Town-based team was recognized as providing the “Best Private Banking Services Overall” in the Cayman Islands, winning the number one ranking in 10 categories, including “Best Trust Services” and “Best Investment Provider”. In addition, RBC Wealth Management was recognized as providing the “Best Private Banking Services Overall” in the Caribbean. This is the third year in a row that RBC Wealth Management – which serves high net worth and ultra high net worth clients in the Cayman Islands, Bahamas and Barbados – has ranked top in the region.

First published in 2004, the Euromoney Private Banking and Wealth Management Survey is regarded as one of the leading benchmarks for the global wealth management industry. Survey results are based primarily on a peer ranking methodology.

RBC Wealth Management has provided offshore banking and wealth management services to Cayman residents and international clients in Cayman since 1972. Its George Town office is home to a large team of professionals with access to a complete range of wealth management services through RBC Wealth Management’s global network of offices. Last month it was announced that John D’Amato had been appointed as Manager, Investment Services, Caribbean, based in George Town, Grand Cayman, responsible for overseeing the delivery of international wealth management services and customised solutions to high net worth and ultra high net worth clients.

Deanna Bidwell, Head of Caribbean, RBC Wealth Management, based in George Town, commented, “This reflects the hard work that our Caribbean teams put in day-in, day-out to better serve our clients. We really value this recognition of our performance by our peers in the industry and look forward to building on this success, in particular following a number of strategic hires that we have made in the last year. In our 40th year in Cayman, we are particularly proud of being named the best provider of Trust Services in Cayman by our peers, where there is a significant market of quality trustees.”

In addition to the success in the Caribbean, RBC Wealth Management was recognised as having the “Best Private Banking Services Overall” in Canada for the fifth consecutive year.

“We are extremely pleased to see RBC Wealth Management recognized for its excellence in solutions and service, both in Canada and abroad and particularly for our strength in trust services,” said George Lewis, group head of RBC Wealth Management. “As the sixth largest wealth manager in the world, RBC Wealth Management continues to build a leadership position worldwide and attract and retain clients and great talent. This is a testament to the depth of our offering, our underlying strength and stability and the commitment of our people.”

RBC Wealth Management was recognised in July 2011 as the world’s sixth largest Global Wealth Manager in Scorpio Partnership’s Global Private Banking Benchmark 2011, an annual survey of the global wealth industry.