Royal Bank of Canada (RBC) said yesterday it had acquired boutique financial advisers Loudoun Capital Partners for an undisclosed sum as part of its continuing expansion efforts in Europe.
The bank which replaced Citigroup as advisers to Resolution, the life funds group run by Clive Cowdery last month, said the acquisition of Loudoun, which will become part of RBC Capital Markets, forms an important step in the expansion of its investment banking business.
RBC added Mike Carter and Robin Mackie, the co-founders of Loudoun Capital Partners, would now head the up the European financial institutions group within its global investment banking platform.
Patrick Meier, head of investment banking Europe at RBC Capital Markets, said the deal was “indicative of the focus we have placed on broadening our scope of coverage in financial services, a sector in which RBC can play a major role.”
He added the acquisition of Loudoun would “add a new layer of expertise to our strong European platform.”