New name aligns with business focus and reflects commitment to clearing and custody

MINNEAPOLIS (Dec. 8, 2020) – RBC Correspondent and Advisor Services, one of the top clearing and custody providers in the U.S., announced today that it has changed its name to RBC Clearing & Custody (RBC C&C). The new name has been chosen to better align with the primary focus of the business internally and externally and marks a new chapter in the company’s growth.

RBC C&C is growing and evolving like its name. In the last five years, revenue and assets under management (AUM) are up over 100% as the business continues to attract more broker dealers and RIAs to the platform. That growth is a direct result of RBC C&C’s reputation for helping its clients achieve their most important strategic priorities. It’s also the product of important enhancements and investments in technology to help RBC C&C’s financial service clients grow, run and protect their businesses.

“We are excited about our name change to RBC Clearing & Custody,” said Brett Thorne, head of RBC Clearing & Custody. “With our business growth and as a global RBC effort to better align our business segments with the enterprise brand, it makes sense to transition to our new name. We’ve reimagined our brand to reflect our commitment to exceeding service expectations, delivering innovative resources, and creating value for our clients.”

The new name is effective immediately and will be implemented throughout the 2021 calendar year. The company has an updated logo and has launched a new website, which can be accessed at www.rbcclearingandcustody.com.

About RBC Clearing & Custody

RBC Clearing & Custody provides clearing, custodian and execution services for independent broker-dealers and registered investment advisors. A leader in the U.S. brokerage industry since 1909 and a custody and clearing leader since 1979, RBC specializes in delivering personalized, high-touch service to help investment professionals manage their clients’ needs.

RBC Clearing & Custody is a division of RBC Capital Markets LLC, member NYSE/FINRA/SIPC, a wholly owned subsidiary of Royal Bank of Canada (RBC), one of the world’s largest and strongest banks. For more information, please visit www.rbcclearingandcustody.com.

Media Contact

Nicole Garrison, 612-371-2999, nicole.garrison@rbc.com

© 2020 RBC Correspondent Services, a division of RBC Capital Markets, LLC, Member NYSE/FINRA/SIPC.