(30 March 2005 – Australia) RBC Capital Markets, the corporate and investment arm of Royal Bank of Canada, has become the first Canadian bank to become a participant of the Australian Stock Exchange.RBC, which has a Sydney based equity team focussed on local and international mining stocks, said the move was part of its strategy to provide clients with a full global service.
“We believe our new direct trading and settlement capability in Australia gives us considerable opportunity for expansion given that already buoyant conditions within the sector are anticipated to improve further over the next few years,” RBC Capital Markets director Peter Main said.
“We have developed a strong global presence in the natural resources sector for the past eight years and are well positioned to assist clients’ needs around the world,” he said.
RBC Capital Markets mining business in Australia was formed in 1997 through an equity investment in Perth based Hartley Poynton. The original intention was for RBC to target HP’s wealth management customers with the mining business being only a secondary benefit.