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...
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