Royal Bank of Canada (RBC) will close its wealth management office in Montevideo, Uruguay, at the end of October, Bloomberg has reported.
The office employs about 40 employees.
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The decision is "part of a strategic review of our Latin American business," Aishling Cullen, a spokeswoman for the Canadian bank told Bloomberg.
"Some employees may move to other locations, and the office will provide services until 31 October 2013," she said.
A local judicial inquiry involving soccer players, in which the bank was asked for information in June, is "a separate situation," Cullen commented.
The firm is working with authorities and hasn’t been accused of any wrongdoing, the publication quoted the spokeswoman as saying.
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