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

Share price jumped

clock • 2 min read
Brewin Dolphin's Robin Beer
Image:

Brewin Dolphin's Robin Beer

Royal Bank of Canada's wealth management arm is looking to acquire Brewin Dolphin with a cash offer with an equity value of around £1.6bn at 515 pence per share.

Brewin Dolphin - a leading wealth manager in the UK and Ireland 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 annoucement on Thursday (31 March) morning, Brewin Dolphin's share price soared by over 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, s...

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