Royal Bank of Canada has opened a new office in Camana Bay. The new location on Forum Lane will house the operations for RBC Dominion Securities and RBC Private Banking.
“We are incredibly proud to be moving into the Camana Bay community,” said Andrew McCartney, managing director, RBC Dominion Securities, in a press release. “As one of the region’s leading financial and commercial hubs, Camana Bay offers world-class services and solutions for Cayman residents.”
“This investment in a new state-of-the-art office in one of the region’s leading financial and commercial hubs reinforces our commitment to the Cayman Islands. Camana Bay is uniquely positioned as the preeminent home for high-net-worth businesses and we are excited about what the future holds, both for RBC, and the wider Camana Bay community.”
McCartney said the move also puts the bank closer to many of its partners and clients.
“Now we can be even closer to the service providers with whom we work to help deliver the world-class service our clients have come to expect. In fact, many of our family office clients now happen to be our neighbours at Camana Bay.”
The move will consolidate RBC Dominion Securities and private banking employees from across Cayman into one location.
“RBC Royal Bank has a proud history in the Caribbean,” said Malynda Gibson-Nixon, country manager, Cayman Islands.
“With over 55 years of service to this community, our new office is a sign of our continued investment in the Cayman Islands. We are confident in the strength of this market and we are excited for what the future holds here.”
RBC Dominion Securities has more than 400,000 clients globally and $402 billion in assets under care.
Its new office in Camana Bay will have approximately 30 employees.
“Our team is very pleased to welcome RBC to the community of over 120 businesses that are based in Camana Bay,” said Jennifer Ebanks, Dart’s senior manager, Business Development.
The office opening comes during a period of development at Camana Bay, with the expansion of Cayman International School and the recent opening of Foster’s 60,000-square-foot supermarket. Camana Bay’s first for-sale residential offering, OLEA, is now under construction.
In the coming weeks, RBC will install an automated teller machine in Camana Bay to give all clients more access to banking services, the bank stated.
It is the third bank that will have a 24/7 ATM in Camana Bay, joining Cayman National and Scotiabank.
Butterfield Bank is expected to open a branch in the town centre early this year.