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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Royal Bank of Canada    RY   CA7800871021

ROYAL BANK OF CANADA (RY)
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New Office Hours: Royal Bank of Canada's unique collaboration with WeWork

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09/29/2017 | 12:31pm CEST

RBC is taking space at WeWork'sToronto location to better serve business owners

TORONTO, Sept. 29, 2017 /CNW/ - With office sharing on the rise in Canada, RBC is proud to announce an exciting collaboration with WeWork, one of the world's largest shared workspace and community for entrepreneurs, freelancers, startups, small businesses and large enterprises. As part of the collaboration, RBC will have a presence in both Toronto and Montreal WeWork locations to provide members with financial advice.

This is another example of how RBC is investing in ways to meaningfully connect and share its insights and expertise with the business community. RBC is the first large Canadian bank to provide onsite and face-to-face advice to businesses operating in a shared space community.

"We understand that businesses need more than just financial services to thrive," said Greg Grice, Executive Vice-President, Business Financial Services at RBC. "We're always looking to serve business clients in new and innovative ways as their operations and banking needs evolve. By bringing our expertise to the WeWork community, we are not only better addressing the needs of current and potential clients in real-time, but we are helping to provide companies with a better opportunity for success."

At WeWork Richmond Street West in Toronto, WeWork and RBC are creating an inspiring and collaborative community hub where WeWork members can meet with trusted RBC professionals to gain knowledge and insights that will meaningfully advance their work objectives—whether it's assistance on how to apply for a loan, guidance on how to optimize capital structure, or tips on how to grow headcount, RBC is available to help. In addition, RBC banking product and service offers will be available to WeWork members via the organization's online benefits marketplace.

Dave McLaughlin, General Manager for WeWork's East region, added "At WeWork, we are constantly striving to help our members make a life, not just a living. We want to provide as many services, opportunities and experiences that our members need to succeed in creating their life's work. By bringing RBC directly into our community, we are now offering our members the opportunity to gain insights from financial professionals and build relationships that can positively impact their businesses in the long-term."

"This is especially important for a business starting out or in need of additional space," adds Grice. "It gives them flexibility and access to a community that they can use to learn, grow and network with."

The workplace is changing and evolving on a daily basis. Together, RBC and WeWork have introduced a creative solution that benefits our communities.

About RBC
Royal Bank of Canada is Canada's largest bank, and one of the largest banks in the world, based on market capitalization. We are one of North America's leading diversified financial services companies, and provide personal and commercial banking, wealth management, insurance, investor services and capital markets products and services on a global basis. We have approximately 81,000 full- and part-time employees who serve more than 16 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 35 other countries. For more information, please visit rbc.com.‎

RBC helps communities prosper, supporting a broad range of community initiatives through donations, community investments and employee volunteer activities. For more information please see: http://www.rbc.com/community-sustainability/.

About WeWork
Founded in 2010 in New York City by Adam Neumann and Miguel McKelvey, WeWork is a platform for creators, providing more than 150,000 members around the world with space, community, and services through both physical and virtual offerings. Its mission is to create a world where people work to make a life, not just a living. WeWork currently has more than 165 physical locations in more than 54 cities and 16 countries around the world.

The company now employs more than 32,000 globally. WeWork seeks 'creators' from all industries and companies big and small to become members, with a suite of WeWork-specific membership benefits in each country and a local staff in each city.

SOURCE RBC Royal Bank

© Canada Newswire, source Canada Newswire English

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Financials (CAD)
Sales 2018 42 058 M
EBIT 2018 17 779 M
Net income 2018 12 000 M
Debt 2018 -
Yield 2018 3,63%
P/E ratio 2018 12,59
P/E ratio 2019 11,78
Capi. / Sales 2018 3,58x
Capi. / Sales 2019 3,42x
Capitalization 151 B
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Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 113  CAD
Spread / Average Target 8,5%
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Managers
NameTitle
David I. McKay President, Chief Executive Officer & Director
Kathleen Patricia Taylor Chairman
Bruce Ross Group Head-Technology & Operations
Rod Bolger Chief Financial Officer
Michael H. McCain Independent Director
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