Yesterday, the Royal Bank of Canada (RBC) announced it is expanding its Halifax operations by establishing a new finance-shared services centre in Bedford that will support new digital image cheque processing operations and a number of finance and accounting services. RBC has launched its recruitment program for 150 new positions at the centre in cheque processing, accounts payable and fixed asset accounting. Hiring will begin immediately.
RBC joins a growing cluster of Canadian and international financial services companies located in Halifax. As Atlantic Canada’s economic hub and financial services centre, Halifax offers financial services companies what they need to succeed - a growing sector, key infrastructure and a skilled workforce.
Nova Scotia Business Inc. (NSBI) worked with RBC over the past year in choosing Halifax for its new centre. RBC, and NSBI have signed an incentive agreement to expand in Nova Scotia. The agreement signed with RBC estimates the potential for up to 500 new jobs within 10 years. If RBC creates 500 new jobs in the next 10 years, the company would add an estimated $240 million in salaries and benefits to the Nova Scotia economy. The new employees would pay provincial personal income taxes of about $26 million. As a result, the company can earn up to a capped $22 million in payroll rebates through Nova Scotia Business Inc.'s Strategic Investment Funds.
RBC currently employs over 900 people in Nova Scotia who serve more than 410,000 clients, from 63 branches and an Atlantic headquarters. Last year, RBC donated more than $1.8 million to local charities in Nova Scotia and RBC employees volunteer extensively across the region in support of local communities. The bank continues to bring events to the region including the Nova Scotia Open/RBC Canada Cup.
The Halifax Partnership congratulates RBC on their latest expansion in Halifax and NSBI for bringing another high value opportunity to our city and province. We are confident that Halifax offers what RBC needs to succeed.
- For those interested in working for RBC, check out their career portal at jobs.rbc.com
- For more information on what the Financial Services sector in Halifax has to offer, check out our online Sector Profile.