RBTT/RBC opens Port-of-Spain headquarters
Published: Friday | May 22, 2009
St Clair Place, RBTT's new headquarters, an image of which is in the background, will become the hub for the RBC Caribbean network when the merger is complete. Here in discussion (from left) are Jim Westlake, RBC group head of international banking and insurance; Rod Pennycook, RBC executive vice- president of international banking; Peter July, chairman of RBC Financial (Caribbean) Limited; and Suresh Sookoo, CEO, RBTT Financial Group. - Contributed
A new Port-of-Spain headquarters will become the nucleus for RBC's Caribbean network, spanning The Bahamas in the north to Suriname in the south, when the integration with RBTT is complete, the banking group said in a statement Wednesday.
The St Clair Place offices comprise two linked seven and six storey buildings, housing the offices of the executive, key functional areas such as human resources and corporate communications and brand, as well as business units including capital markets, corporate banking, sales and trading, and asset management.
"It feels good to be a part of RBC, " declared RBTT CEO Suresh Sookoo at the opening.
Withstand challenges
He explained that RBC has been able to withstand the challenges of the current economic environment largely because of a history of prudent risk management and a well-managed, diversified portfolio.
RBC is Canada's largest bank, but fifth largest in North America; and the 13th largest bank, is one of only seven banks globally with a Moody's triple-A credit rating.
"RBC is one of the best examples of an institution realising the value of banking prudence in a time of instability, generating more than C$4.5 billion in earnings in 2008 and C$1 billion in the first quarter of 2009," said Sookoo.
RBC and RBTT are completing the integration of their operations following the finalisation of the US$2.2 billion or US$6.33 per share deal in June 2008.
The new corporate offices opened for business May 12.
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