RBC Dain Rauscher Inc. has signed a definitive agreement to buy New Jersey-based J.B. Hanauer & Co., an employee-owned financial services company that specializes in retail fixed-income and wealth management services.
The Royal Bank of Canada unit said Tuesday that Hanauer has five offices in three states with about 300 employees and nearly $10 billion of assets under administration. The deal's terms were not disclosed.
RBC Dain Rauscher is a unit of Royal Bank of Canada; the parent made four U.S. acquisitions in 2006 — Flag Financial Corp., Carlin Financial Group, Daniels & Co., and American Guaranty & Trust.
