RBC and BlackRock Announce Strategic Alliance
Jan 11, 2019 | Frank Sakellariou
We would like to drive your attention to a January 8th RBC News Release announcing the strategic alliance formed between RBC GAM and BlackRock Canada. This initiative shows RBC’s focus in continuing to work towards finding new and innovative ways of delivering value to clients.
TORONTO, January 8th, 2019 - RBC Global Asset Management Inc. (“RBC GAM Inc.”) and BlackRock Asset Management Canada Limited (“BlackRock Canada”) today announced a strategic alliance that will deliver the most comprehensive ETF offering in the Canadian marketplace.
This transformational alliance brings together two market leaders: the world’s largest ETF manager, and Canada’s largest asset manager.
The ETF families offered in Canada by BlackRock Canada and RBC GAM Inc. are being brought together under one new brand – RBC iShares. Combined, this $60 billion solution suite represents Canada’s largest and most comprehensive ETF offering, including index, factor, quantitative and active strategies. The RBC iShares suite includes a total of 150 ETFs: 106 high-quality, liquid, cost-competitive index solutions managed by BlackRock Canada, and 44 index, smart beta and actively managed solutions managed by RBC GAM Inc.
“This alliance is a win for Canadian investors and reflects our unwavering focus on the interests of clients,” said Damon Williams, CEO of RBC Global Asset Management. “Canadian investors deserve a level of choice, quality and cost competitiveness that is second to none – and that is what RBC iShares delivers. This exciting step forward in the ETF space complements our continued focus on expanding our industry-leading Canadian mutual fund business.”
To access the full RBC news release please click on the following link: RBC Global Asset Management and Blackrock Canada announce strategic alliance to transform Canadian ETF market.