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RBC Capital Markets is a global investment bank providing services in banking, finance, and capital markets to corporations, institutional investors, asset managers, and governments globally. Locations span 58 offices in 14 countries [ 1 ] across North America, the UK, Europe, and the Asia-Pacific region.
RBC Dominion Securities was the brand used by Royal Bank of Canada for full service brokerage services, primarily in Canada, and formed part of RBC's Wealth Management and Capital Markets divisions. Today, RBC Dominion Securities is known as RBC Capital Markets [ 1 ] and RBC Wealth Management.
RBC Capital Markets is RBC's worldwide investment and corporate banking subsidiary, while the investment brokerage firm is known as RBC Dominion Securities. Investment banking services are also provided through RBC Bank and the focus is on middle market clients. In 2011, RBC was the largest Canadian company by revenue and market capitalization. [9]
From 2000 onwards, these investment banking subsidiaries, RBC Dominion Securities, BMO Nesbitt Burns, CIBC Wood Gundy, and McLeod Young Weir, were all rebranded to RBC Capital Markets, [25] BMO Capital Markets, [26] CIBC World Markets, and Scotia Capital, respectively.
While RBC's corporate headquarters and the majority of its management operations have been based in Toronto's Royal Bank Plaza since 1976, Place Ville Marie remains RBC's head office, a distinct title from its corporate headquarters. [5] It is a 188 m (617 ft), 47-storey, cruciform office tower.
RBC Global Asset Management UK, originally known as Royal Trust Global Investment Group, was founded in 1996. [ 5 ] Royal Bank of Canada agreed to acquire the company in October 2010, in a deal valued at £963 million ($1.54 billion), [ 6 ] completed on 17 December 2010.
One Liberty Plaza is a hub of Wall Street activity, housing RBC Capital Markets' trading floors. [15] Major tenants are New Avon (2 floors), the Lower Manhattan Development Corporation , and the international law firm Cleary Gottlieb Steen & Hamilton (531 attorneys on 11 floors). [ 16 ]
The CIBC Capital Markets unit suffered a net loss of C$186 million during the fourth quarter of fiscal 1998 which dragged down the performance of the parent bank's stock by almost one-third. The loss in 1998 was due primarily to very rapid expansion into regions impacted by the various financial crises in 1998.