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Tag Archives: RBC

RBC loses bid to overturn US$76 million judgment over sale of ambulance company Rural/Metro


The Delaware Supreme Court upheld on Monday a ruling that RBC Capital Markets is liable for US$76 million for its role in the 2011 sale of ambulance company Rural/Metro, which was found to have shortchanged investors. The case has been closely watched on Wall Street because the 2014 ruling by …

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Glencore can withstand downgrade to junk: RBC


There has been plenty of speculation over the past few months that Anglo-Swiss commodities giant Glencore PLC could lose its investment-grade credit rating. Currently, the debt-laden company is two notches above junk status. Many investors are alarmed about a potential downgrade to junk, given that it would increase funding costs …

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RBC’s rewards program teams up with Airbnb in sign that upstart has ‘arrived’


Canada’s biggest bank is forming a partnership with Airbnb Inc., offering RBC Rewards members double the points when they book accommodations through the home-sharing service. The promotion for RBC Rewards Visa cardholders runs through Feb. 29, with clients earning twice the usual number of points for every Canadian dollar spent on an …

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RBC offers customers double reward points and $20 off first ride with Uber


RBC credit card holders will get $20 off their first ride with Uber and earn double the rewards points, if they sign up for the app-based car service with an eligible RBC card, Canada’s largest bank said Tuesday. Avion credit cardholders and other RBC Rewards members who are already Uber …

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Aviva Canada Inc to buy RBC General Insurance Company for $582 million


Royal Bank of Canada is selling its home and auto insurance business to Aviva Canada Inc. for $582 million in a deal that includes a 15-year distribution arrangement allowing the bank to continue selling a “full suite” of insurance products. RBC chief executive Dave McKay indicated last year that the bank …

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RBC names BNP’s Raffaele Prencipe to head London financials trading


Royal Bank of Canada hired BNP Paribas SA’s Raffaele Prencipe as head of financials trading for its capital- markets operations in London. Prencipe, 30, will focus on building RBC Capital Markets’ financials trading offerings as the firm develops its European credit business, the Toronto-based lender said Monday in an internal memo. …

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Former RBC and Scotia adviser lands in regulatory crosshairs for third time


A former adviser at RBC Dominion Securities Inc. and Scotia Capital Inc. is alleged to have “impersonated his clients” at a firm he started after settling disciplinary actions in connection with his work at  the two major banks. The Ontario Securities Commission says Mark Steven Rotstein and his new firm Equilibrium …

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RBC postpones investor day following death of City National chairman emeritus


Royal Bank of Canada has postponed an investor day that planned to discuss the recent acquisition of Los Angeles-based City National Bank, following the death of the U.S. private and commercial bank’s chairman emeritus and board member Bram Goldsmith. Goldsmith, who was 93, died on Sunday. He had served as …

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