RBC Closes Mourant Private Wealth Deal

Royal Bank of Canada has completed the acquisition of Mourant Private Wealth, the multi-award winning international private client trust business, with operations in Jersey, Dubai and Cayman, from Mourant, whose group of businesses includes one of the leading offshore law firms, Mourant du Feu & Jeune. The deal closed after receiving regulatory approval. 

The acquisition of Mourant Private Wealth means that RBC Wealth Management now employs over 1,000 people in Jersey, making RBC Wealth Management one of the largest financial services employers in the jurisdiction. In addition, RBC Wealth Management employs over 300 people in Guernsey and a further 200 people in London, Cheltenham and Edinburgh.  

The acquisition of Mourant Private Wealth has added more than £3.5 billion in assets under administration to RBC Wealth Management, bringing the firm’s wealth management assets under administration in the British Isles to more than £66.5 billion and more than £260 billion on a global basis. 

With close to 800 trust professionals, RBC Wealth Management is recognized as a leading provider of trust services.  RBC was voted Number One Trust Services Provider in the UK in Euromoney’s Private Banking Awards, 2008, 2007 and 2006. RBC Wealth Management is also recognized as one of the top 25 global private banks in the world.