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RBC Dain Rauscher completes acquisition of JB Hanauer
MINNEAPOLIS, MN, May 18, 2007 - RBC Dain Rauscher,
Corp., a wholly owned subsidiary of Royal Bank of Canada (RY
on TSX and NYSE), announced today it has completed the acquisition
of JB Hanauer & Co, Parsippany, New Jersey.
"We are very pleased to welcome a firm that so closely
mirrors our strategic approach and our culture," said
RBC Dain Rauscher CEO John Taft. "We have not only added
talented employees and excellent customers, but we have expanded
our presence in key markets within New Jersey, Pennsylvania
and Florida."
About RBC Dain Rauscher
RBC Dain Rauscher Inc., a wholly owned subsidiary of Royal
Bank of Canada (RY on TSX and NYSE), is one of the nation's
largest full-service securities firms. The company serves
individual investors and businesses through offices coast
to coast, and capital markets and correspondent clients in
select U.S. and international markets. Founded in 1909, RBC
Dain Rauscher is a member of the New York Stock Exchange and
other major securities exchanges, as well as the Securities
Investor Protection Corp. RBC Dain Rauscher is part of RBC's
Wealth Management segment, which directly serves affluent
and high net worth clients in Canada, the United States, Latin
America, Europe and Asia, provides asset management and trust
services through RBC and third-party distributors and has
approximately $500 billion of assets under administration,
3,500 financial advisors and more than $130 billion of assets
under management.
About RBC
Royal Bank of Canada (RY on TSX and NYSE) and its subsidiaries
operate under the master brand name of RBC. RBC is Canada's
largest bank as measured by assets and market capitalization
and one of North America's leading diversified financial services
companies. The firm provides personal and commercial banking,
wealth management services, insurance, corporate and investment
banking and transaction processing services on a global basis.
Its corporate support team enables business growth with expert
professional advice and state-of-the art processes and technology.
The company employs approximately 70,000 full- and part-time
employees who serve more than 14 million personal, business,
public sector and institutional clients throughout offices
in North America and 34 countries around the world. For more
information, please visit www.rbc.com.
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Media Contacts:
RBC
John Bousquet, RBC Dain Rauscher, (612) 371-2225
Beja Rodeck, RBC, (416) 974-5506
Investor Contacts:
Marcia Moffat, RBC, (416) 955-7803
Amy Cairncross, RBC, (416) 955-7809
For general investor relations information please visit: www.rbc.com/investorrelations.
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