RBC Dain Rauscher to become RBC Wealth Management

Move to a single U.S. broker-dealer a win for RBC Wealth Management clients MINNEAPOLIS, MN, March 3 /PRNewswire-FirstCall/ - As part of RBC's(Royal Bank of Canada: RY) global brand strategy, RBC Dain Rauscher todayannounced it has changed its brand name to RBC Wealth Management. RBCWealth Management also introduced a new technology platform and announcedthe formation of a single U.S. broker-dealer that gives clients andemployees increased access to the products and services from RBC's globalnetwork of financial solutions. "Operating under our new brand name, RBC Wealth Management willcontinue to serve affluent and high net-worth clients in the UnitedStates," said John Taft, head of RBC U.S. Wealth Management. "As part of asingle broker-dealer sharing the same technology platform as RBC CapitalMarkets, we will be able to offer our clients seamless access to RBC'scapabilities and increase the range and breadth of the services we are ableto provide." In addition to the firm's new brand name, the legal entity name willchange to RBC Capital Markets Corporation. The integration creates a strong U.S. wealth management platform with acombined sales force of nearly 1,800 financial consultants and a network of161 locations in 39 states, $141 billion of assets under administration and$130 billion of assets under management. Said Mr. Taft, "RBC has significantly grown its U.S. business throughacquisitions by hiring experienced, professional advisers and by helpingthem grow their businesses and better serve their clients. Today's move toa single broker-dealer allows us to continue our trajectory and clientservice more effectively than ever before." About RBC Wealth Management RBC Wealth Management directly serves affluent and high net worthclients in Canada, the United States, Latin America, Europe and Asia, andprovides asset management and trust products and services through RBC andthird-party distributors and has nearly $500 billion of assets underadministration, more than $160 billion of assets under management and morethan 3,600 financial consultants, advisors, private bankers and trustofficers. RBC Wealth Management, a wholly owned subsidiary of Royal Bank ofCanada, is one of the largest full-service securities firms in the U.S. Thecompany serves individual investors and businesses through officescoast-to-coast, and capital markets and correspondent clients in selectU.S. and international markets. Founded in 1909, RBC Wealth Management is amember of the New York Stock Exchange and other major securities exchanges,as well as the Securities Investor Protection Corp.