Strategy

RBC Re-Brands, Integrates US Wealth Management

Stephen Harris 4 March 2008

RBC Re-Brands, Integrates US Wealth Management

US-based RBC Dain Rauscher has changed its brand name to RBC Wealth Management and has introduced a new technology platform. The Canadian bank has also formed a single US broker-dealer that it says gives clients and employees increased access to the products and services from RBC’s global network of financial solutions. “Operating under our new brand name, RBC Wealth Management will continue to serve affluent and high net-worth clients in the US,” said John Taft, head of RBC US Wealth Management (sic). “As part of a single broker-dealer sharing the same technology platform as RBC Capital Markets, we will be able to offer our clients seamless access to RBC’s capabilities and increase the range and breadth of the services we are able to provide.” The legal entity name will change to RBC Capital Markets Corporation. The integration creates a US wealth management platform with a combined sales force of nearly 1,800 financial consultants and a network of 161 locations in 39 states, $141 billion of assets under administration and $130 billion of assets under management.

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