Doug Guzman, Group Head, RBC Wealth Management, RBC Insurance and RBC Investor & Treasury, said: “The UK is a key growth market for RBC, and Brewyn Dolphins gives us an exceptional opportunity to significantly transform our wealth management business in this region. provides the platform.” Services.
The deal has an equity value of approximately $2.6 billion (GBP £1.6bn) and is subject to common shareholder and regulatory approval.
David Thomas, CEO and Head of Wealth Management, RBC Capital Markets Europe, said: “This is a transformative acquisition for RBC Wealth Management and strengthens RBC’s position as a market leader across multiple business platforms in the UK, Channel Islands and Europe. strengthens.” We look forward to welcoming Brewin Dolphin’s employees and customers and working together to leverage RBC’s global reach and significant capabilities to create new opportunities for joint business growth.”
benefits of scale
Brewin Dolphin is a wealth management firm with approximately £59 billion ($97bn) AUM as of December 31, 2021.
It is one of the oldest financial firms in the UK, founded in 1762, and has approximately 2,000 employees in 34 offices. It is listed on FTSE 250.