This Is Guernsey

By Tom Edwards

Royal Bank of Canada managing director John Bridel.

THE Guernsey team played a significant role in Royal Bank of Canada making net profits of £48m., according to its managing director.

John Bridel said because 90% of the bank’s workforce was based in the Channel Islands, Guernsey’s contribution could not be underestimated.

‘The office here is recognised as a centre of expertise by the company at large and we also contribute towards the island’s financial industry and community,’ he said.

‘People often don’t know it, but we are not just a bank.

‘We are a financial services company providing trust and fiduciary services, tax advice, investment services and offshore fund management.’

It’s a busy time for RBC. It is its 35th anniversary in Guernsey and it also made the final three for the Healthspan Best Large Business Award.

It has achieved the highest total shareholder return of the top 100 banks worldwide in the last two years and was named Channel Island Administrator of the Year 2007 at the Euromoney Awards.

Funds under management in Guernsey have grown to a staggering £6bn, £1bn of which was accumulated in the past year.

RBC has also celebrated finalising the integration of trust business Abacus, which was a major project in the Channel Islands.

‘That involved a lot of extra hours and its completion is a testament to the quality of the people we have,’ said Mr Bridel.

‘We put ourselves forward for the Awards For Achievement because we were very proud of what we have achieved.

‘We have shown that we can develop into one of the leading companies in Guernsey and I believe that deserves some recognition.

‘We are proud of who we are and what we do and to be shortlisted was a great honour.’

RBC ranks among the top 50 banks in the world and is the largest company in Canada.

It is one of the largest employers in the Channel Islands with more than 300 full- and part-time staff in its Guernsey office.

‘We are able to offer our staff a broad range of career opportunities. In Guernsey alone, we have 10 different areas that people can specialise in and that’s fields, not just roles,’ said Mr Bridel.

‘Training is fundamental to the business and we offer highly comprehensive schemes with dedicated experts in the island.

‘Our philosophy is to nurture home-grown talent and our ultimate aim is that someone can join our organisation from school and work their way up the ladder. If you are prepared to work hard, there are rewards to be gained.’

RBC is involved with charitable causes and established the Guernsey Leadership Team to work in the the community.

Staff chose the Alzheimer’s Society as their charity for 2007 and achieved the annual fund-raising target of £10,000.

More than £6,000 was also raised for the Maison Million Home Appeal by 100 staff participating in the Memory Walk.

‘I think we have already made a positive difference,’ said Mr Bridel.

‘In the future we want to play an even broader role in the community.’