Royal undergoes wealth management makeover

Article Abstract:

Royal Bank of Canada, the largest bank in the country, has restructured its wealth management, corporate and investment banking operations. The restructuring establishes three divisions: personal and commercial banking; corporate and investment banking; and wealth management. The wealth management banking division, with 8,200 employees and C$75 billion in client assets, consists of stockbrokers at RBC Dominion Securities Ltd. and Royal Trustco Ltd.; Royal Bank's mutual fund arm; and the bank's discount brokerage unit. The new structure, which becomes effective on Nov. 1, 1998, will affect over 11,400 employees. Having a diverse work force prompted Royal Bank to undergo the restructuring so employees with similar responsibilities could work together as teams.

Comment:

Restructures its wealth management, corporate and investment banking operations & creates three divisions

Commercial Banks, Commercial Banking, Strategy & planning, Royal Bank of Canada

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Dundee Securities negotiating to buy rival Deacon Capital

Article Abstract:

Dundee Securities Corp., a Toronto, Ontario-based brokerage firm, is close to completing its acquisition of Toronto-based Deacon Capital Corp., according to industry sources. Inside sources and other rival dealers said the two brokerage houses have been negotiating the deal for several years past. However, Deacon Capital Chief Executive Officer Gwyer Moore denied the rumors, saying there is no deal between his company and Dundee Securities. Dundee Securities President Don Charter, meanwhile, neither confirmed nor denied any deal with Deacon. Deacon's small retail operations, with 19 stockbrokers, is what likely attracted Dundee Securities to its rival because Dundee is considering plans to enter the retail business.

Comment:

Is close to completing its acquisition of Toronto, Ontario-based Deacon Capital Corp, according to sources

Asset sales & divestitures, Acquisitions & mergers, Securities Brokerage, Securities and Commodity Contracts Intermediation and Brokerage, Securities & Investment Svcs, Stockbrokers, Investment services, Deacon Capital Corp., Dundee Securities Corp.

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INSEAD dean has a global perspective

Article Abstract:

INSEAD, which is an international business school, has received top marks in a new survey from Business Week magazine. The European Institute of Business Administration, which is located in Fontainebleau, France, is led by Gabriel Hawawini.

France, Colleges & Universities, Colleges, Universities, and Professional Schools, Population information, Colleges and universities, Management, Universities and colleges, Surveys, Business Week (Periodical), European Institute of Business Administration

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