RBC Wealth Management is partnering with iCapital Network to provide customized alternative asset technology and service to its clients, worldwide, according to an announcement. Beginning with a rollout in Asia, RBC anticipates expanding its alternative asset offerings to its U.S.-based clients in the first half of 2021, according to a spokesperson.
“Our partnership with iCapital complements our existing investment solutions and global banking capabilities,” said Juan Aronna, head of investments at RBC Wealth Management International and Asia, in a statement. The tie-up is expected to improve the provisioning of alternative assets by the RBC wealth management group, he added.
“We are delighted that RBC Wealth Management selected iCapital to build a customized platform that will manage private market investments, and ultimately hedge funds, seamlessly across currencies, regulatory environments and languages,” said Lawrence Calcano, chairman and CEO of iCapital, in a statement. “We share the RBC team’s commitment to providing best-in-class, easy and transparent access to alternatives and the highest level of service to clients.”
