TORONTO, March 24, 2023 (GLOBE NEWSWIRE) — Onex Company (TSX: ONEX ) and RBC Wealth Administration Canada (RBC WMC) in the present day introduced that RBC WMC has employed your complete advisory staff at Gluskin Sheff, Onex’s privately held enterprise. Gluskin Sheff and RBC WMC will work to make sure a seamless transition for patrons who select to change to RBC WMC.
As well as, the 2 corporations have agreed to work collectively to distribute Onex’s funding methods by way of RBC WMC. This is able to put Onex Funds on one among Canada’s largest wealth platforms whereas increasing RBC WMC’s product choices for rich Canadians. Onex is a number one various asset supervisor with almost 40 years of personal funding expertise, and its funding methods embrace non-public fairness, non-public credit score and liquid various options.
We’re delighted to companion with RBC Wealth Administration Canada, mentioned Bobby Le Blanc, President of Onex. This represents an thrilling step ahead for our enterprise, permitting us to concentrate on investing, asset administration and product growth whereas leveraging the dimensions and energy of one of many nation’s largest wealth administration platforms.
All through its historical past, Gluskin Sheff has delivered innovation and excellence to prosperous traders, who will now be capable to profit from the total breadth of RBC WMC’s funding administration and wealth planning capabilities whereas sustaining the Gluskin Sheff relationship they worth. Dave Kelly, Head of Gluskin Sheff.
We’re happy to welcome the Gluskin Sheff purchasers and advisory teams to Wealth Administration Canada, mentioned David Agnew, CEO of RBC Wealth Administration Canada. This strengthens our funding options at Wealth Administration Canada, whereas Gluskin Sheff advisors and purchasers will acquire entry to our group of world-class household workplace providers, funding administration assets and wealth planning experience.
The events will adjust to all regulatory necessities crucial for the additional growth of this association.
About RBC Wealth Administration Canada
RBC Wealth Administration Canada is the biggest wealth administration agency in Canada, answerable for C$533 billion in belongings. As a part of RBC, Wealth Administration Canada has greater than 2,100 accredited and licensed advisors and consultants who instantly serve greater than 500,000 excessive internet value and ultra-high internet value purchasers by offering funding administration and a full vary of wealth planning providers in 185 branches and places of work . all through the nation. RBC Wealth Administration Canada consists of 5 entities together with RBC Dominion Securities, RBC PH&N Funding Counsel, RBC Royal Belief, RBC Wealth Administration Monetary Companies (an insurance coverage company) and RBC Household Workplace Companies. For extra data, please go to RBC Wealth Administration Canada.
About RBC
Royal Financial institution of Canada is a world monetary establishment with a targeted and principled method to attaining superior efficiency. Our success comes from greater than 97,000 staff who use their creativeness and perception to carry our imaginative and prescient, values and technique to life so we will help our clients thrive and communities thrive. As Canada’s largest financial institution and one of many world’s largest by market capitalization, now we have a diversified enterprise mannequin targeted on innovation and offering an distinctive expertise to our 17 million clients in Canada, the US and 27 different nations. Be taught extra at rbc.com.
We’re proud to help a variety of neighborhood initiatives by way of donations, neighborhood funding and worker volunteerism. See how at rbc.com/community-social-impact.
About Onex
Onex is an investor and asset supervisor that invests capital on behalf of Onex shareholders and purchasers world wide. Established in 1984, now we have a powerful observe report of making worth for our clients and shareholders. Onex’s two fundamental areas of exercise are non-public fairness and credit score. In non-public fairness, we increase funds from third-party traders or restricted companions and make investments them alongside Onex’s personal funding capital by way of our Onex Companions and ONCAP non-public fairness platforms. Equally, in lending, we increase and make investments capital by way of a number of non-public credit score, public debt and public fairness methods. Our traders embrace a variety of world purchasers, together with private and non-private pension plans, sovereign wealth funds, insurance coverage corporations and household places of work. Onex has US$50.8 billion in complete belongings underneath administration, of which US$7.9 billion is Onex’s personal funding capital. With places of work in Toronto, New York, New Jersey, Boston and London, Onex and its skilled administration groups are the biggest traders on Onex platforms.
Onex is listed on the Toronto Inventory Trade underneath the image ONEX. For extra details about Onex, go to www.onex.com. Onex safety recordsdata are additionally accessible at www.sedar.com.
Warning Concerning Ahead-Wanting Statements
This press launch comprises forward-looking statements inside the that means of sure securities legal guidelines, together with the “secure harbor” provisions of the US Personal Securities Litigation Reform Act of 1995 and any relevant Canadian securities legislation with respect to the RBC WMC Plans and Onexs. Ahead-looking statements on this press launch could embrace, however should not restricted to, statements concerning plans to switch the Gluskin Sheff Advisor Teams to RBC WMC and our targets and commitments. The forward-looking data contained on this press launch is supplied to help shareholders and analysts in understanding the association and is probably not acceptable for different functions. Ahead-looking statements are typically recognized by phrases reminiscent of “consider”, “count on”, “anticipate”, “forecast”, “anticipate”, “intend”, “estimate”, “objective”, “plan” and “undertaking” and comparable expressions future or conditional verbs reminiscent of ‘will’, ‘could’, ‘ought to’, ‘may’ or ‘would’.
By their very nature, forward-looking statements require us to make assumptions and are topic to inherent dangers and uncertainties that create the likelihood that our forecasts, projections, projections, expectations or conclusions could not show correct, that our assumptions could also be incorrect, and that our precise outcomes could differ materially from such forecasts, projections, projections, expectations or conclusions. We warning readers to not place undue reliance on these forward-looking statements, as quite a few danger elements may trigger our precise outcomes to vary materially from the expectations expressed in such forward-looking statements.
Any forward-looking statements contained on this doc mirror the views of RBC and Onex solely as of the date hereof. Besides as required by legislation, neither RBC nor Onex undertakes to replace any written or oral forward-looking statements that could be made by us or on our behalf occasionally.
Contact data
For Onex:
| Jill Khamenyuk Managing Director Shareholder Relationships and communications Telephone: +1 416.362.7711 |
Zev Korman Vice-president, shareholder Relationships and communications Telephone: +1 416.362.7711 |
For RBC WMC administration:
| Greg Skinner Director of Communications RBC Wealth Administration Telephone: +1 416.294.5579 |
Asim Imran Vice President, Head of Investor Relations RBC Telephone: +1 416.955.7804 |
