Royal Bank of Canada announced Monday an agreement to buy Hambros Bank's bond business from Societe Generale.

The deal will be made through Royal Bank's European subsidiary, RBC Dominion Securities Global Markets, London. France's Societe Generale completed its acquisition of Hambros Bank Group last week.

About 150 Hambros employees are now to move to Royal Bank. The Hambros bond business is in London and has offices in Sydney, Australia; Johannesburg; Toronto; and Tokyo.

The acquisition is effective immediately, Royal Bank said. But bond activity will continue to be handled through Hambros Bank in London for about a month.

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