Introduction from Royal Bank Financial Group
October 23, 1997
Royal Bank is proud to co-sponsor this symposium and to assist in ensuring that the important issues identified and analyzed by the Royal Commission on Aboriginal Peoples (RCAP) are publicized and appreciated. We hope that this forum, and the thought provoking materials in this compendium, will contribute to a greater understanding amongst all Canadians of the need to ensure that Canada's Aboriginal peoples advance and prosper . This message is particularly aimed at Canada's business community. While corporations are already helping through many initiatives and programs, RCAP outlines how the private sector must move forward to the next level of activity. As Canada's Aboriginal peoples assume greater self-determination, we in corporate Canada have a ready-made opportunity to take part in what could be a defining moment in history. By taking a direct role in the economic development of Aboriginal communities across Canada, businesses will not only ensure a better standard of living for Aboriginal Canadians, but will ensure long-term value for their own shareholders. It is not just a matter of corporate responsibility, but good business sense, to create a more prosperous future for all of us who call Canada home.
John E. Cleghorn, F.C.A. Chairman and Chief Executive Officer of Royal Bank Financial Group
Introduction from CANDO
On behalf of the Council for the Advancement of Native Development Officers (CANDO), I would like to welcome you to the Royal Bank - CANDO Symposium. You have been invited here today to participate in an initiative that is the first of its kind - a joint statement on the economic recommendations of the Royal Commission on Aboriginal Peoples by a major Canadian corporation and an Aboriginal economic development organization. This unique partnership is a reflection of the growing desire in both corporate Canada and the Aboriginal community to address "the cost of doing nothing". I invite you to listen to the recommendations that will contribute to building Aboriginal economies and communities. The presentations you will hear will underscore a need to be active, to be involved and to build in partnership. CANDO is a national Aboriginal organization which strives to support the important work Aboriginal economic development officers do. We are also an example of how corporate Canada and an Aboriginal organization can partner to work toward mutually beneficial goals. It is my sincere hope that this symposium will prove to be informative and inspirational and I am confident that together we will strengthen Aboriginal economies across Canada.
Angie Stewart, President
Background information on Royal Bank
ROYAL BANK OF CANADA: One of the world's premier international banks and Canada's largest financial institution
Founded and chartered in Halifax, Nova Scotia in 1869, Royal Bank now serves 10 million personal and business customers across Canada. With assets totaling more than CAD$250 billion, it is the largest bank in Canada. Royal Bank Financial Group, which includes RBC Dominion Securities and Royal Trust, ranks as a leader among providers of integrated financial services in North America.
The bank's services are delivered through one of the largest banking networks in the world. In Canada, Royal Bank has almost 1,600 branches and special business units, reinforced by 4,000 automated banking machines, as well as almost 30,000 point-of-sale merchant terminals.
Outside Canada, Royal Bank serves clients in some 180 countries through almost 100 offices in 35 nations. In 1995, the bank opened its first office in Chile and its third in The People's Republic of China. Its units around the world deliver corporate banking, investment banking, custody, treasury and capital market products to institutional clients as well as global private banking services for individuals.
In the Caribbean, Royal Bank operates a well-established retail network of branches. The bank's global reach is further extended through correspondent banking relationships with 3,500 of the world's leading banks.
Royal Bank is the first Canadian bank to have information on international trade services available on the Internet, including an interactive map index of the bank's international network. The bank's Internet address is .
Royal Bank employees number some 55,000 (48,500 FTE) and 89 per cent of them are shareholders of the bank, holding approximately four per cent of the common shares.
Investment banking activities are carried on by RBC Dominion Securities Inc., Canada's leading investment dealer. Through Royal Trust, acquired by Royal Bank in 1993, the Royal Bank Financial Group offers personal and institutional trust services, mutual funds, investment management and securities custody services. Other subsidiaries within the group include a discount brokerage and a life, credit, travel and health-related insurance business.
Royal Bank of Canada enjoys an Aa2 credit rating with Moody's, ranking it tied for first with two other of the 30 largest banks in North America.
Background information on CANDO
The Council for the Advancement of Native Development Officers (CANDO) was established in 1990 by fifty Native economic development officers (EDOs) from across Canada. The goal of CANDO is to develop relevant training and education programs to help EDOs develop the skills and knowledge necessary to serve their communities as professionals. To further this goal, CANDO provides a wide range of programs that are coordinated by the national office and regional board members. The programs are delivered in partnership with local and/or regional Aboriginal organizations, governments, post-secondary institutions, and corporations.
EDOs have expressed a desire to ensure that all individuals who work in this critical area acquire a solid foundation in economic development. The special challenges facing Aboriginal communities require exceptional knowledge and skills in this area. EDOs also require opportunities for partnerships, and an ongoing program of professional development activities to keep them informed and knowledgeable on current and cutting-edge approaches, best practices, and changes in the field.
CANDO is a federally registered, non-profit society that is Aboriginal-controlled, community-based, and membership-driven. It has a Canada-wide membership exceeding 450.
CANDO's 3 Year Vision
At a strategic planning session in Quebec City in August, the CANDO National Board laid the foundation which will take CANDO into the next millennium. The Board re-defined CANDO's role as a member/community-driven organization designed to provide support to EDOs in Aboriginal communities across Canada. Consistent with this premise, the Board will launch an extensive membership drive to ensure that all EDOs have access to the many benefits CANDO has to offer. Membership value will be accordingly expanded to include access and reduced rates for members to CANDO's new web page. A store is built into the site which has a wide variety of items such as publications, "how to" manuals, the new MawiO'mi Journal and many more EDO related materials. The exciting new certification program will also be a central feature of CANDO.
The next few years which will take us into the new millennium, are promising and exciting for CANDO. The Business Plan will provide the blueprint for an organization dedicated to the supporting of EDOs who are direct contributors in the process of building Aboriginal economies.