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RBC Capital Markets, the corporate and investment banking arm of RBC Financial Group, today (April 29) announced the launch of its services in Hong Kong to strengthen its regional presence and celebrate the company's recent move to the Cheung Kong Center in Central.

RBC Financial Group has had a presence in Hong Kong since 1958 when it opened a representative office. Today, its operations include corporate and investment banking, private banking, custody services and retail brokerage.

"The addition of RBC Capital Markets to the existing RBC Financial Group in Hong Kong recognises the importance of offering a broad and ever expanding range of products and services to corporations, governments and institutions in the Asian economy," said Mr John Burbidge, chief operating officer, Europe and Asia, RBC Capital Markets.

RBC Capital Markets currently operates more than 30 offices worldwide. The firm's in-depth industry knowledge and research positions it to deliver customised solutions for clients through teams of professionals worldwide.

Mr Andrew Turczyniak, chief executive officer, Hong Kong branch, adds, "We are very optimistic about the future of the financial services sector in Hong Kong and look forward to a long and prosperous relationship in this region. We have a strong commitment to building up our presence in Hong Kong and recognise that this city epitomises the vitality of this region. We see tremendous business opportunities in the rapidly growing Asian economy and view this milestone as a bridge to future business expansion throughout the Pacific Rim."

The Hong Kong branch will provide a range of corporate and investment banking products and services to corporations, governments and institutional clients. RBC Financial Group currently employs more than 100 staff in Hong Kong.

The Secretary for Financial Services and the Treasury, Hong Kong Special Administrative Region, Mr Frederick Ma, attended the opening ceremony as guest of honour. Mr Ma welcomed the expansion of Canada's largest banking group in Hong Kong, "We are very pleased with RBC's increased focus on the Asia Pacific region. This news attests to that fact that Hong Kong retains a very important role as the international financial hub in Asia. As the world's freest economy, Hong Kong has a lot to offer to financial institutions, and has great advantages in leveraging on its special relationship with the Mainland."

The Acting Director-General of Investment Promotion at Invest Hong Kong, Mr John Rutherford, also attended the opening ceremony as officiating guest. He said, "The rapidly growing economies in Asia, provide massive business opportunities for companies such as RBC. With a sophisticated banking system, rule of law and a large pool of highly-qualified professionals, Hong Kong is the natural choice for banks to access the region."

RBC Capital Markets is the global brand for the corporate and investment banking businesses of RBC Dominion Securities, Canada's leading investment bank, and Dain Rauscher Wessels, the US equity capital markets arm of RBC Dain Rauscher (member of NYSE and SIPC). The firm offers focused industry expertise and global reach in its chosen products, markets and industry sectors through five business divisions and 3,000 employees including some 80 analysts covering more than 900 companies. It is a member of Royal Bank of Canada, Canada's largest financial institution as measured by market capitalisation and assets and one of North America's leading diversified financial services companies. It provides personal and commercial banking, wealth management services, insurance, corporate and investment banking, and transaction processing services on a global basis. The company employs 60,000 people who serve more than 12 million personal, business and public sector clients through offices in North America and some 30 countries around the world.

Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating foreign investment into the city by providing the support needed to establish a business presence here.

Ends/Thursday, April 29, 2004

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