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RBC Dain Rauscher Makes US Wealth Management Acquisition

Stephen Harris

14 March 2007

Royal Bank of Canada-owned RBC Dain Rauscher is to acquire J.B. Hanauer, a New Jersey-based employee-owned financial services firm specialising in retail fixed income and wealth management services. The transaction is expected to be completed in May and is subject to regulatory approvals. The terms of the deal were not disclosed. J.B. Hanauer runs five offices in three states with over 300 employees and close to $10 billion in assets under administration.