Royal Bank of Canada has completed the acquisition of Brewin Dolphin for £1.6bn.

Brewin Dolphin will now operate as RBC Brewin Dolphin, as part of RBC, and will continue to be led by CEO, Robin Beer.

RBC Wealth Management International and RBC 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 day one.

Doug Guzman, group head, RBC Wealth Management, RBC Insurance and RBC Investor & Treasury Services, said: “Bringing together these complementary teams will establish and secure RBC Wealth Management’s position as a leading wealth manager in the UK and Ireland, while also providing future growth opportunities in an attractive and consolidating market. This platform enhances our franchise's global brand, scale and stability, as we strengthen our leading position across North America and now the UK. Most importantly, we are looking forward to bringing together two purpose-driven organisations with a shared commitment to doing what’s right for our clients, our communities and each other.”

Robin Beer, CEO, RBC Brewin Dolphin added: “Our strategy to become a leading advice-focused, digitally enabled wealth manager is set to be accelerated by becoming part of RBC. What doesn’t change is our focus on providing the exceptional advice and client focus that has been the foundation of our success and which made us of interest to RBC. In becoming RBC Brewin Dolphin we are combining two highly-regarded names and signalling our intention to further enhance our client proposition, and we are all incredibly excited about the future.”

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