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RBC in talks with UK banks

Canadian bank RBC is understood to be looking to expand in Europe and is having talks with a view to acquiring a boutique investment bank in London. Co-head of RBC Capital Markets, Doug McGregor, spent last week in the capital meeting potential acquisition targets. The talks are so far only exploratory, but RBC is thought to be keen to buy in London as it believes the purchase could help speed up the bank’s expansion. So far this year RBC Capital Markets has hired more than 530 staff around the world, including 140 in Europe.