RBC Royal Bank plans to hire 450 new employees in Canada to serve as personal banking account managers and financial services representatives. The new employees will be based in branches across the country where their main responsibility will be to enhance customer service and provide clients with a broad range of financial advice and products.

With the new hires, Canada’s largest bank will have over 4,700 personal bankers serving its Canadian customers, in addition to 1,600 branch-based financial planners from coast to coast.

“Our goal is to provide clients with better service and value that clearly differentiates RBC Royal Bank from the pack,” said Jim Rager, vice chairman of RBC Financial Group. ” Increasing the capacity of our sales and service force, combined with our ability to take a complete view of our clients’ needs, will help us do a better job of providing them with the best financial advice, products and solutions.”

The bank will also spend $35 million in capital expenditures over the next three years to update and refresh 700 of its 1,132 Canadian retail branches.

“Our customers value the convenience provided by online and telephone banking, but they also like having the option of dealing face-to-face with people who can help them make important choices about their financial affairs,” added Rager.

Recruitment activities have already begun and the bank hopes to have the new employees hired, trained and serving customers by early 2003. While the majority of new positions will be in Ontario and British Columbia, there will be new positions added in every province.