Garden State Securities, Inc. has chosen RBC Correspondent Services (RBC CS) as our clearing partner, responsible for the processing of our client transactions. RBC CS has a strong history in the clearing business, serving more than 150 broker-dealer clients since 1979.
RBC Correspondent Services is a division of RBC Capital Markets, LLC, member NYSE/FINRA/SIPC. RBC Capital Markets, LLC is owned by Royal Bank of Canada, which trades under the symbol RY on the New York Stock Exchange.i
RBC employs nearly 80,000 full-and part time employees who serve more than 18 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 53 other countries- making it a respected leader in diversified financial services. Its financial strength, sound risk management policies, strong balance sheet, diversified business mix, and performance relative to its peers has been, and should be, a source of confidence for you.
RBC CS is part of RBC’s U.S. Wealth Management business, which has a rich hundred-year history of serving the sophisticated wealth management needs of the world’s leading families. Delivering their world-class wealth management solutions and custodial services to broker-dealers is an important strategic priority of RBC.
What Are RBC’s Credit Ratings?
RBC’s senior long-term debt credit ratings are stellar, including the Aaa rating from Moody’s Investors Services, the AA- rating from Standard and Poor’s and AA ratings from Fitch and DBRS.ii
What is RBC’s Standing Among Its Peers in Global Financial Services?
RBC is the sixth largest bank in North America and the 13th largest bank in the world in terms of market capitalization.iii Global Finance magazine rated RBC the safest bank in Canada (1999-2009) and the safest bank in the Americas (January 2009). In addition, RBC has been named one of the world’s top 100 sustainable companies for its efforts to do business in a sustainable and responsible manner.iv
iRoyal Bank of Canada and RBC Capital Markets, LLC carry separate balance sheets and are responsible for separate debts. Royal Bank of Canada does not guarantee any debt or liabilities of RBC Capital Markets, LLC.
iiSource: Bloomberg, February 25, 2009.
iiiSource: Bloomberg, October 16, 2009.
ivGlobal 100 list identifying companies that have the best developed abilities, relative to their industry peers, to manage environmental, social and governance risks and opportunities. The Global 100 list is compiled by the World Economic Forum in Davos, Switzerland. RBC has been named to this list every year from 2004-2008.
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