The Toronto company, which calls itself RBC Financial Group, plans to formally unveil the new unit, RBC Hedge Fund Services, as early as this week. It offers settlement, clearing, custody, financing, and reporting services to hedge funds.

Peter Sanchez, the global head of prime brokerage and operations in Royal Bank’s global treasury services division, is leading the unit. Sanchez, who also oversees the parent company’s Canadian prime brokerage operation, is a former Greenwich NatWest Markets executive who joined Royal Bank 15 months ago.

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