RBC Wealth Management has made “the difficult decision to close its office in Guernsey following a review of its business and centralise all relevant activity, predominantly in Jersey and other centres”, a spokesperson has revealed.
“The firm expects the full closure, and transition of client business and business operations, to take up to two years to complete, with some activities moving sooner.
“The impact of the closure on individuals will be determined by their role. RBC is committed to ensuring that employees are kept well-informed and treated fairly and respectfully as the firm closes its activity.”
The spokesperson added: “RBC remains committed to its operations in Jersey and across Europe in its strong capital markets, global asset management and wealth management businesses in the region, as demonstrated by its recent acquisition of Brewin Dolphin.”
