The Wealth Management Group (WMG), which will join Rbc Wealth Group in the new year, is the biggest financial service company in the UK.
The group is already based in the City of London, which is where the RBC Group is based.
The company’s website states it is “one of the world’s largest financial services companies, headquartered in London and led by the founder of RBC Capital Markets, Jim Grant.”
WMG has about $500 billion in assets under management.
It has about 12,000 employees worldwide, and is the largest provider of wealth management services.
The RBC group is an investment management group and a major provider of private equity and other equity services, as well as investment banking and investment advisory services.
According to its website, WMG has a long history of investing in the real estate, technology and finance sectors, and will now be “the world’s leading wealth management provider for people with modest incomes.”
“We are excited to join the Rbc group, and to be working with such a global asset management firm and its global staff to help them grow their wealth management businesses and accelerate their transition to a digital and connected world,” said Tim Hunt, President and CEO of WMG.
“The partnership will help WMG accelerate our transformation and build a global network of wealth managers to help people achieve their financial goals.”
Last month, WMGs CEO, Ian Stirling, announced a plan to invest in the RMB, which he called “a currency that will continue to have a positive impact on our world.”
Stirling said in a press release that he would invest $1 billion in RBC and its other financial services businesses and a $1.2 billion fund in WMG’s global wealth management and investment firm.
In November, the RBS Group announced it would be purchasing RBC from RBC for a reported $1 trillion.
Stokes, the former chief executive of RBS, said in October that he was looking to invest $250 billion in the group, which has about 4,000 members.