OTTAWA (dpa-AFX) - Royal Bank of Canada (RBC) said on Tuesday that it has completed the acquisition of Brewin Dolphin Holdings Plc, a British wealth management firm.
The newly acquired firm will now function as 'RBC Brewin Dolphin', and will continue to be led by CEO, Robin Beer.
The acquisition has been completed for a final consideration of around C$2.4 billion or 515 pence per share.
The lender has noted that the RBC Wealth Management International and RBC Brewin Dolphin will continue to run as separate units until integration in the future.
Doug Guzman, Group Head of RBC Wealth Management, RBC Insurance and RBC Investor & Treasury Services, said: 'Bringing together these complementary teams will establish and secure RBC Wealth Management's position as a leading wealth manager in the UK and Ireland.This platform enhances our franchise's global brand, scale and stability, as we strengthen our leading position across North America and now the UK.'
Copyright(c) 2022 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2022 AFX News
