Advertisement
YOU ARE HERE: LAT HomeCollectionsRoyal Bank Of Canada
IN THE NEWS

Royal Bank Of Canada

FEATURED ARTICLES
BUSINESS
August 2, 2001 | From Times Wire Services
Royal Bank of Canada said Wednesday that it will buy brokerage Tucker Anthony Sutro for $625 million and merge it with Dain Rauscher Inc. to create the ninth-largest U.S. full-service securities firm. It's the latest of a series of deals for Royal Bank, which purchased Minneapolis-based Dain Rauscher earlier this year. The purchase also continues the trend of banks worldwide moving deeper into the securities industry.
ARTICLES BY DATE
BUSINESS
August 2, 2001 | From Times Wire Services
Royal Bank of Canada said Wednesday that it will buy brokerage Tucker Anthony Sutro for $625 million and merge it with Dain Rauscher Inc. to create the ninth-largest U.S. full-service securities firm. It's the latest of a series of deals for Royal Bank, which purchased Minneapolis-based Dain Rauscher earlier this year. The purchase also continues the trend of banks worldwide moving deeper into the securities industry.
Advertisement
BUSINESS
June 21, 2001 | Reuters
Swiss bank UBS said it plans to buy the pension management arm of Royal Bank of Canada for about $230 million in a further expansion of its North American reach. The deal is tiny compared with UBS' $11.8-billion acquisition of U.S. broker PaineWebber last year. However, it underscores intentions by the Swiss giant--which has funds under management greater than Canada's GDP--to further reinforce its already impressive bulk in the fast-growing wealth management business.
BUSINESS
June 21, 2001 | Reuters
Swiss bank UBS said it plans to buy the pension management arm of Royal Bank of Canada for about $230 million in a further expansion of its North American reach. The deal is tiny compared with UBS' $11.8-billion acquisition of U.S. broker PaineWebber last year. However, it underscores intentions by the Swiss giant--which has funds under management greater than Canada's GDP--to further reinforce its already impressive bulk in the fast-growing wealth management business.
BUSINESS
June 20, 2000 | From Reuters
Two U.S. companies, Liberty Corp. and Reliance Group Holdings Inc., said Monday that they were selling insurance businesses as part of shifts in strategic direction. Liberty Corp., a broadcasting and insurance holding group, said it agreed to sell its insurance units to Royal Bank of Canada for $650 million. Reliance Group, an insurance company being purchased by Leucadia National Corp.
BUSINESS
January 10, 2004 | From Associated Press
The University of California, the lead plaintiff in a massive conglomerate of shareholder lawsuits filed in the aftermath of Enron Corp.'s collapse, added two law firms, a Canada-based bank and investment firm Goldman, Sachs & Co. as defendants Friday. The shareholder lawsuits are seeking billions of dollars from banks, brokerages, former Enron executives and the company itself. The university filed two complaints Friday in federal court in Houston.
BUSINESS
October 9, 2008 | From Times Wire Services
Bank of America Corp. and Royal Bank of Canada will bail out customers stuck with $10.3 billion in auction-rate securities and pay fines to settle state and federal claims that they misled investors in selling the products. Bank of America will buy back $4.5 billion of the securities and pay a $50-million fine in agreements with the Securities and Exchange Commission and New York Atty. Gen. Andrew Cuomo that "closely mirror" a deal last month with Massachusetts. The bank will help clients dispose of an additional $5 billion, the SEC said.
BUSINESS
May 28, 2005
* Royal Bank of Canada agreed to sell its U.S. mortgage unit to New Century Financial Corp. of Irvine for as much as $109 million. The cash purchase will add about 135 branches to New Century's network. * The Internal Revenue Service announced plans to close 68 taxpayer assistance centers, including those in the California cities of San Marcos, Bakersfield, El Centro, Santa Rosa, Santa Barbara, Fresno and Camarillo. * Ford Motor Co.'
BUSINESS
June 20, 2000 | From Reuters
Two U.S. companies, Liberty Corp. and Reliance Group Holdings Inc., said Monday that they were selling insurance businesses as part of shifts in strategic direction. Liberty Corp., a broadcasting and insurance holding group, said it agreed to sell its insurance units to Royal Bank of Canada for $650 million. Reliance Group, an insurance company being purchased by Leucadia National Corp.
BUSINESS
June 13, 1994 | From Times Staff and Wire Reports
Canadian Economy Shows Strong Growth: Annual growth of 4.2% was recorded for the first quarter, but exceptionally high interest rates and political uncertainties will temper that later this year, economists said. The quarterly figures, led by a surge of 3.7% in consumer spending because of tax refunds, outpaced economists' forecasts of 2.9% growth.
BUSINESS
April 3, 2001 | Bloomberg News
JB Oxford Holdings Inc. agreed to buy the accounts and assets of Royal Bank of Canada's Bull & Bear Securities Inc. subsidiary for an undisclosed amount of cash to expand its brokerage business. Los Angeles-based JB Oxford will gain 23,000 accounts and $250 million in assets, bringing its totals to 181,000 and $2.2 billion. Royal Bank will retain the name of New York-based Bull & Bear. JB Oxford shares fell 9 cents to $1.13 on Nasdaq.
Los Angeles Times Articles
|