RBC set to take over Brewin Dolphin for £1.6bn in 'transformative' acquisition

Share price jumped

clock • 2 min read

Royal Bank of Canada's wealth management arm is looking to acquire Brewin Dolphin with a cash offer with an equity value of about £1.6bn.

Brewin Dolphin - the UK and Ireland wealth manager with assets under management of £59bn - has an "impressive" track record of growth and innovation, according to RBC, which said the UK is a key growth market for the bank. Following the announcement on Thursday (31 March), Brewin Dolphin's share price soared by more than 60% to 512 as of 8:50am. RBC also highlighted Brewin Dolphin's "longstanding record of delivering superior client service and robust performance". Doug Guzman, group head of RBC Wealth Management, RBC Insurance and RBC Investor & Treasury Services, said: "The UK is...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Companies

Benchmark seals deals with two more advisory firms

Benchmark seals deals with two more advisory firms

Bought 100% of Advison and 49% of Chartered Independent

Jenna Brown
clock 22 November 2022 • 2 min read
Woodhouse: “Sound financial advice is particularly highly valued in difficult macroeconomic conditions."

Evelyn confident in solid inflows and income despite £4bn AUMA drop

Wealth manager publishes third quarter trading update

Hope William-Smith
clock 07 November 2022 • 2 min read
SJP chief executive Andrew Croft

SJP reports £5bn drop in funds amid modest third quarter flows

Inflows offset by surrenders and investment loss

Kathleen Gallagher
clock 20 October 2022 • 1 min read