RBC Brewin Dolphin
FormerlyBrewin Dolphin
TypeWholly owned subsidiary of Royal Bank of Canada
De-listed from the LSE on 27 September 2022
IndustryInvestment management
Founded1762 (1762)
HeadquartersLondon, UK
Key people
Robin Beer (CEO)
RevenueIncrease £405.9 million (2021)[1]
Increase £74.0 million (2021)[1]
Increase £55.3 million (2021)[1]
AUMIncrease £51.7 billion (2022)[2]
OwnerRoyal Bank of Canada (2022-present)
Websitewww.brewin.co.uk

RBC Brewin Dolphin (the trading name for Brewin Dolphin Holdings) is one of the largest British wealth management[3] firms with over 30 offices throughout the UK, Jersey and Ireland, and c. 2,000 employees.[4] It provides investment management and financial planning services to individuals, companies, intermediaries and charities.

On 27 September 2022, Brewin Dolphin was acquired by the Royal Bank of Canada and has since been known as "RBC Brewin Dolphin".[5]

History

The business can trace its origins back to the establishment of the stockbroking firm of John Dawes, a founder of the London Stock Exchange, in 1762.[6] His firm evolved through many partner changes to become Wontner, Dolphin & Francis in 1970.[6] In 1974 Brewin & Co merged with Wontner, Dolphin & Francis to form Brewin Dolphin. The business was incorporated in 1987 and acquired by Scandinavian Bank the same year. It was then the subject of a management buy-out from Scandinavian Bank in 1992 and was first listed on the London Stock Exchange in 1994.[7]

It acquired Bell Lawrie, a Scottish firm of investment managers, in 1993.[8] It went on to buy Wise Speke, an investment manager operating in the North of England, in 1998[9] and Popes, a firm based in Stoke-on-Trent, in 2002.[10] It then acquired Duncan Lawrie Asset Management, a firm operating in London, in December 2016[11] and Investec Wealth Management, a firm operating in Ireland, in October 2019.[12] Other acquisitions include IFA firms Aylwin (2018),[13] Epoch Wealth Management (2019),[14] and actuarial consultancy Mathieson Consulting (2019).[15]

In March 2022, RBC made a recommended offer for the company worth £1.6 billion, subject to regulatory and shareholder approval.[16][17] The necessary approvals were secured in September 2022.[18]

References

  1. 1 2 3 "Annual Report 2021" (PDF). Brewin Dolphin. Retrieved 16 February 2022.
  2. ↑ "RBC Brewin Dolphin offers investment management via expat advisers". RBC Brewin Dolphin Group. Retrieved 27 December 2023.
  3. ↑ "Investopedia definition of wealth management". Archived from the original on 2002-06-13.
  4. ↑ "Annual Report 2020" (PDF).
  5. ↑ "Royal Bank of Canada completes acquisition of Brewin Dolphin". RBC Wealth Management. Retrieved 2022-12-14.
  6. 1 2 Archer, Angela page 36
  7. ↑ "Brewin Dolphin to seek listing on stock market". The Independent. 12 April 1994. Retrieved 16 April 2017.
  8. ↑ "Bell Lawrie to rebrand as Brewin Dolphin". Money Marketing. 17 November 2008. Retrieved 16 April 2017.
  9. ↑ "Wise Speke to take on Brewin Dolphin name". Citywire. 10 December 2007. Retrieved 16 April 2017.
  10. ↑ "Brewin Dolphin Securities acquires Popes". Birmingham Post. 8 May 2002. Retrieved 16 April 2017.
  11. ↑ "Brewin Dolphin acquires Duncan Lawrie Asset Management". Money Marketing. 19 December 2016. Retrieved 28 February 2021.
  12. ↑ "Brewin Dolphin completes €44m deal for Investec arm". Irish Times. 1 November 2019. Retrieved 28 February 2021.
  13. ↑ "Brewin Dolphin acquires IFA firm Alywin". IFA Magazine.
  14. ↑ "Brewin opens in Bath following 19m wealth deal". Citywire Wealth Manager.
  15. ↑ "Brewin Dolphin acquires actuarial consulting firm".
  16. ↑ "RBC Wealth Management to Buy Brewin Dolphin for £1.6 Billion". Bloomberg News. 31 March 2022. Retrieved 14 December 2022.
  17. ↑ "Royal Bank of Canada to buy Brewin Dolphin for £1.6bn". Financial Times. 31 March 2022. Retrieved 4 April 2022.
  18. ↑ "RBC wins final regulatory nod for £1.6bn Brewin Dolphin takeover". Private Banker International. 14 September 2022. Retrieved 26 September 2022.

Further reading

  • Archer, Angela The Making of Brewin Dolphin, Newport News, 2000 ISBN 0-9514601-2-9
  • Hamilton, Kirstie Celebrating 250 Years, Wardour, 2012
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