Royal Bank of Canada acquires Brewin Dolphin for £1.6bn

Six month completion

Royal Bank of Canada's (RBC) wealth management arm has completed the acquisition of Brewin Dolphin for £1.6bn.

Brewin Dolphin will now operate as RBC Brewin Dolphin and will continue to be led by its current chief executive Robin Beer, according to RBC. The "transformative acquisition," which was first announced by RBC in March this year, will create one of the largest wealth managers in the UK Channel Islands and Ireland with £58bn assets under management as of 31 August 2022. RBC Wealth Management International and Brewin Dolphin will continue to operate as separate businesses until integration over the coming months, with no immediate changes to the propositions that each business offers on...