Royal Bank of Canada (RBC) has appointed JPMorgan to help sell RBC Suisse, its Swiss wealth management business.
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The Swiss unit was put under strategic review at the end of November following the lender’s announcement of restructuring of its international wealth management operations.
RBC Suisse, with total assets of CHF 2.02bn ($2bn), reportedly could also be shut down if it cannot be sold.
The bank has earlier unveiled plans to quit its wealth management international operations in the Caribbean, as well as "certain international advisory and international private banking groups in Canada and the US."
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