Royal Bank of Canada

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Royal Bank of Canada is a multinational, diversified financial services company, providing personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services. The bank was founded in 1864, and is headquartered in Montreal, Quebec, with its corporate headquarters in Toronto, Ontario.

Business segments include:

BankTrack-Fossil-Bank.svg Financing Fossil Fuels:[1]
 Tar Sands: $6.20bn   Arctic Oil: $29m   Offshore: $1.19bn   Fracking: $3.46bn   LNG Export: $865m   Coal Mining: $182m   Coal Power: $530m 

Company

Shareholders

Total float: 86.2%
Source: MarketScreener.svg, Mar.2020

Structure

ToDo: Businesses,

General Motors Financial Company Inc

Investment Brands

RBC Capital Markets LLC

Flag-Canada.svg RBC Capital Markets LLC
Website

RBC Dominion Securities

Flag-Canada.svg RBC Dominion Securities Inc
Website

City National Rochdale

Flag-Canada.svg City National Rochdale LLC
City National Rochdale Funds, City National Rochdale

RBC Global Asset Management

Flag-Canada.svg RBC Global Asset Management Inc Website

RBC Wealth Management

ToDo: rbcwminternational.com, Our story, link, link

RBC Phillips, Hager & North

Website

Timelines

ToDo: History, Dain Rauscher WesselsWikipedia-W.svg, RBC Milestones, Dain Rauscher Corporation, Royal Bank of Canada, link, link, link, link, link, DDG

  • 2008: RBC Wealth Management: RBC Dain Rauscher Inc was rebranded,ref and changed its legal name to RBC Capital Markets Corporation.OpenCorporates-sm.svg ref RBC Wealth Management.com
  • Dec.2003: William R Hough & Co.: RBC Dain Rauscher Inc signed a definitive agreement to acquire the privately held full-service investment firm that specialised in fixed income products and underwriting primarily in the Southeastern US and Texas. The transaction is subject to regulatory approval and is expected to close in early 2004.ref
  • Mar.2003: First Institutional Securities LLC: RBC Dain Rauscher Inc acquired certain assets and assumed certain liabilities of First Institutional. First Institutional was engaged in the brokerage business of providing investment products to institutional and individual clients.ref
  • Mar.2002: RBC Dain Rauscher Inc put the finishing touches on its merger with Tucker Anthony Sutro & Co., creating the USA's 9th largest full-service brokerage firm. The 4 regional brokerage firms merged as one: Boston-based Tucker Anthony, San Francisco-based Sutro & Co., Richmond, VA-based Branch Cabell and RBC Dain Rauscher in Minneapolis.ref
  • Nov.2001: Royal Bank of Canada purchased all assets of Tucker Anthony Sutro, including Tucker Anthony's 7% interest in Tocqueville Asset Management LP.ref,ref
    RBC merged Tucker Anthony Sutro with its recently-acquired subsidiary Dain Rauscher Wessels.
    ref
    RBC Dain Rauscher Inc: Dain Rauscher Inc changed its name as part of RBC Financial Group’s global brand strategy.ref
    RBC Capital Markets: At the same time, Dain Rauscher’s equity capital markets division, Dain Rauscher Wessels, was renamed to reflect the restructuring of RBC’s corporate and investment banking business in North America.
  • Jan.2001: Dain Rauscher Corporation, a publicly-traded full service brokerage and investment banking firm based in Minneapolis, was acquired by RBC from its shareholders.ref,ref,ref The acquisition gave RBC a long sought-after toehold in the USA wealth-management market.ref RBC Dain Rauscher.arch, Logo
  • Oct.2000: ABN AMRO Inc's private client brokerage office in Chicago was acquired by Dain Rauscher Corporation.ref
  • Jan.1999: Artemis Capital Group Inc, specialised in public finance and ranked within the top ten municipal underwriters, was acquired by Dain Rauscher Corporation. The deal expanded Dain Rauscher's reach as a municipal bond broker in the states that sell the most bonds. The transaction dissolves Artemis.ref
  •  ???: RBC acquired Bull & Bear Securities, a small New York discount-brokerage firm; Prism Financial Corp., a Chicago mortgage broker; and the insurance subsidiaries of Liberty Corp., Greenville, S.C.ref (more)
  •  ??.1998: Security First Network Bank, an Atlanta online bank, was acquired by RBC.

RBC Wealth Management

  • 2008: RBC Wealth Management: RBC changed the name to RBC Wealth Management.ref
  • 2007: J B Hanauer, a brokerage firm founded in 1931, was acquired by RBC Dain Rauscher.
  • 2002: RBC Dain Rauscher: Tucker Anthony and Sutro were merged with Dain Rauscher Corporation to form RBC Dain Rauscher.ref

Freedom Securities Corporation

  • Aug.2001: Royal Bank of Canada acquired Tucker Anthony Sutro Corporation, and merged it with its recently acquired subsidiary Dain Rauscher Corporation.ref
  • Nov.1999: Hill, Thompson, Magid & Co. Inc, based in Jersey City and founded in 1932, was acquired by Freedom Securities Corporation. Freedom Securities subsidiaries included Tucker Anthony, Hopper Soliday (Philadelphia and Lancaster), Gibraltar Securities (New Jersey); Sutro & Company (California); Tucker Anthony Cleary Gull, a capital markets and banking firm; and Freedom Capital Management (Boston), an advisory firm.ref,ref
  • Jul.1999: Gibraltar Securities, a seller of tax-exempt municipal bonds, was acquired by Freedom Securities Corporation.ref
  • Feb.1999: Charter Investment Group Inc, an Oregon corporation, was acquired by Sutro & Company Inc.ref
  • Apr.1998: Freedom Securities Corporation went public, trading on the New York Stock Exchange under the ticker symbol FSX.ref,ref
  • Jan.1998: Freedom Securities Corporation filed plans for an IPO, selling ~50% of the company.ref,ref
  • Nov.1996: Freedom Securities Corporation was formed to buy out John Hancock Freedom Securities CorporationOpenCorporates-sm.svg from John Hancock Mutual Life, with Tucker Anthony Inc and Sutro & Company as its two brokerage subsidiaries, and Freedom Capital Management Company, an asset management subsidiary.ref,ref,ref,ref Thomas H Lee Partners LP and venture capital/private equity firm SCP Private Equity Partners LP were equity partners in the deal; John Hancock Mutual Life retained 5% ownership;ref with management holding ~28%.ref Freedom Securities.arch

Tucker, Anthony & RL Day

  • Oct.1989: Tocqueville Asset Management LP became an independent partnership focusing exclusively on long-term growth and the preservation of clients' capital.ref Tucker Anthony retained a 7% ownership, and later re-organised with Tocqueville Management Corporation as General Partner in 1995.ref Tocqueville Asset Management LP's business and affairs are managed by its General Partner Tocqueville Management Corporation, which owns 80%. Website, Website.arch
  • 1985: Tocqueville Asset Management was established as an investment adviser by Francois Sicart, as a subsidiary of Tucker, Anthony & RL Day.ref ref
  • 1982: John Hancock Mutual Life Insurance Corporation acquired Tucker, Anthony & RL Day. The firm was operated as a division of John Hancock Freedom Securities Corporation,OpenCorporates-sm.svg a holding company that also owned Sutro & Company, an investment management and brokerage firm based in San Francisco, and founded in 1858.ref
  • 1978: TA Associates Management LP became a separate partnership, owned by its management team.ref FixMe: Who funded the MBO?
  • 1977: Foster & Adams: Tucker, Anthony & RL Day Inc bought the brokerage firm, founded in 1903.ref
  • 1968: TA Associates: Peter Brooke, with Tucker, Anthony's backing, established TA Associates as an affiliate, to make venture capital investments in earlier stage companies.ref
  • 1963: Peter Brooke,ref an employee of Tucker, Anthony & RL Day, expanded the firm's venture capital operations.
  • 1956: Tucker, Anthony & RL Day Inc: Tucker Anthony merged with RL Day & Company.ref
  • Jun.1942: Burr, Gannett & Company,an old Boston-based firm, was absorbed by Tucker, Anthony & Co.ref,ref
  • 1892: Tucker & Anthony Bankers was established by William A Tucker and S Reed Anthony in Boston, Massachusetts.ref,ref

References

  1. ^ Banking on Climate Change: Fossil Fuel Finance Report 2020. The new Report shows financial support for the Fossil Fuel Industry has increased every year since the Paris Agreement was adopted in Dec.2015. Again, the big USA banks dominate; again, JPMorgan Chase leads the pack, with Wells Fargo, Citigroup, and Bank of America close on their heels. These 4 banks alone are responsible for 30% of all fossil fuel financing out of the 35 major global banks since the Paris Agreement was adopted. Rainforest Action Network, Mar.20.2019.