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The London Convention Centre has a new name.

The downtown business meeting space will be rebranded as Royal Bank Place London, after the centre cut a 10-year deal with the bank for naming rights.

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“It is living our commitment and our purpose. Our purpose is to help clients thrive and communities prosper. That is the source of success for us,” said David McKay, chief executive Royal Bank, at the convention centre Wednesday for the announcement.

“It is really, really important as this is a meeting place for people in the city and region, and we thought it is a way of demonstrating what makes London special. This is a big part of Southwestern Ontario. We want to be part of that.”

RBC and the convention centre declined to reveal how much the bank paid for sponsorship.

RBC gives $1 million in donations in London annually, $4 million across Southwestern Ontario and more than $100 million nationally.

“It is exciting for us, it is new positioning with the name and RBC Place has a cachet about it. It feels like we are in the big leagues,” said Lori Da Silva, convention centre chief executive.