ROYAL BANK OF CANADA

The Royal Bank of Canada was first incorporated as the Merchants’ Bank of Halifax in 1869. In its early years it would have a steady growth, expanding into Newfoundland and the Maritime Provinces. It would change its name to the Royal Bank of Canada at the turn of the 20th century. Royal Bank of Canada would then go through a series of mergers in the following decades, including companies such as the Union Bank of Halifax, Traders Bank of Canada, Quebec Bank, and the Union Bank of Canada. While the mergers placed the Royal Bank of Canada in a favorable position within Canada, the bank also expanded internationally, opening offices in Bermuda, New York, and Havana in its early years. It would then move on to South America, opening numerous branches throughout the continent and acquiring the Bank of Central and South America in 1925. While it did well in its various branches in those locations, the Royal Bank of Canada would begin closures and withdrawals from much of the Caribbean by the 1980s. It would sell some of its operations in South America to other banks, refocusing its operations elsewhere. At the turn of the century, Royal Bank of Canada would have merged with several companies including the Royal Trust and First Security Network Bank, further strengthening its holdings in North America. The bank would then start expanding its operations in Asia, upgrading its representative office in Beijing to a branch and reacquiring the majority of Royal Bank of Trinidad and Tobago. Although Royal Bank of Canada would sell its American operations to PNC Financial Services, its merger with City National Corporation showed that it would still maintain a significant presence in the United States. Some of the company’s notable mutual funds include its RBC Bond Fund, Select Conservative Portfolio, and Select Balanced Portfolio and notable ETFs include the Quant European Dividend Leaders and Quant EAFE Dividend Leaders.