Royal Bank of Canada (RBC) is looking to boost its international equity capabilities with small- to medium-sized acquisitions in the emerging markets of Asia and Latin American region.
RBC wealth management group head George Lewis told Reuters that the firm is particularly focused building its business in the emerging regions following a very strong presence in North America, and globally in fixed income.
"You’ll see a primary focus from an acquisition point of view continuing in the asset manager area, perhaps more with a focus on the equities and alternatives and small- to medium-sized opportunities, given the nature of how you add capabilities in that particular area," Lewis added.
Underling the bank’s strategy, the group head said that it is likely to purchase a firm with lesser competition and has expressed interest in participating in any bid.
"If there were opportunities that came along that we felt were compelling, we’d obviously look at that," Lewis said.